With the intention of financing a turnkey plant for the treatment of oilseeds and oil extraction in Angola, Deutsche Bank has closed a facility a loan of 57 million euros (62.2 million USD), guaranteed by the Italian export credit agency SACE and Banco de Desenvolvimento de Angola (BDA).

The fully automated plant located in Lobito will now have the processing capacity of up to 4,000 tons of soybeans or 2,400 tons of sunflower seeds per day. Indeed, the loan Deutsche Bank permettra de to finance an export contract between Andreotti Impianti Spa (Italy) and the local company Carrinho Empreendimentos (Angola) for the “turnkey” supply. According to Werner Schmidt, global head of the Structured Trade & Export Finance Division at Deutsche Bank, “this production site reinforces the local economic transition, still dependent on commodity production, towards the creation of a food processing business in ; higher added value. This will thus allow local economic activity to move up the value chain and reduce food imports.”

Noted that this transaction is the first Individual Loan Agreement (ILA) finalized in the context of the Export Credit Framework Agreement (FA) signed in May 2019 between Deutsche Bank, BDA, and the Angolan Ministry of Finance to finance private investment projects in the country. It aims to finance agriculture, agro-industry, fishing and other industries, with the aim of guaranteeing a greater supply of goods, services and jobs, thus creating new opportunities for the population.