Building Blocks

Deutsche Bank sees Angola infrastructure financing as key to oil diversification

By David Whitehouse

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Posted on July 4, 2023 04:00

 © REUTERS/Tyrone Siu
REUTERS/Tyrone Siu

Deutsche Bank’s $305m 10-year lending facility for Angola’s infrastructure development, which was agreed in June, can help the country’s diversification away from oil, Maryam Khosrowshahi, the bank’s co-head of Africa coverage, tells The Africa Report.

The facility will be used to finance improvements to the EN230 highway, which forms an east-west route across the north of the country. The road has a “strong development rationale”, Khosrowshahi says. The loan has 95% insurance cover from the African Trade Insurance Agency.

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