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Angola,Germany : BNI increases 40 MILLION EURO credit line to 70 MILLION EUROS

August 12, 2014

The Angolan bank announced that the 40 million euro credit line, which opened in 2013 by Germany s Commerzbank in favour of Angola s Banco de Negocios Internacional (BNI), has been raised to 70 million euros.

It is stated that the credit line was established to finance imports of German equipment for various industrial development projects in Angola and was well received by our clients, so a decision has been made to increase its value.

BNI also specified that other conditions are same, namely the repayment period for each individual financing loan, which varies between 5 and 13 years.

In July, BNI inked a deal with the International Finance Corporation (IFC) of the World Bank to open a US$25 million dollar credit line to finance companies from the industrial, commercial and distribution sectors.

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Source: TendersInfo (India)

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