The African Export and Import Bank is available to open a US$1 billion credit line to finance projects of small and medium-sized companies in Angola, a consultant from the bank said in Cairo.

Consultant Paulo Gomes, at the end of a visit to Angola’s pavilion at the 2018 Intra-African Trade Fair (IATF) held in that city from 10 to 17 December, said that financing for projects in the industrial and energy sector will be offered through commercial banks operating in Angola.

Afreximbank, which is the promoter of the trade fair in Cairo, intends to sign financing agreements worth over US$25 billion with African entrepreneurs, with a three-year payment period.

Gomes also said that Angola was one of the first countries to position itself for this credit line, according to Jornal de Angola.

More updates to come.