Angola

Cover facilities are available on a case-by-case basis.

Please note the statement regarding security that may be required.

Cover facilities are available on a case-by-case basis under a ceiling of EUR 1 billion. This applies particularly to:

-        Transactions that foster the country’s economic development and domestic production (productive projects)

-        Transactions that contribute to the improvement of institutional frameworks and the business environment

-        Infrastructure and environmental projects

-        Foreign exchange-generating transactions

-        Transactions that contribute to the economy’s diversification, in particular projects that reduce Angola’s dependence on fossil fuels

A restrictive approach is adopted to cover of financed local costs. Foreign supplies will usually be covered only if they can be reinsured.

Over and above the ceiling, cover facilities are available for project financed and other structured finance deals, also based on countertrade transactions, as well as for fully internationally financed transactions.

APG

If the maximum amounts exceed 2.5 million euros, the same collateral requirements as for short-term transactions apply.

Short-term transactions, private sector

If the foreign buyer’s creditworthiness is inadequate, bank security is required.

Medium/long-term transactions, private sector

Security provided by a bank that is to be examined on a case-by-case basis is required.

Public sector

For transactions with contract values of up to 500,000 euros, bank security is required if the buyer’s creditworthiness is inadequate. For transactions exceeding this amount and credit periods of more than 360 days, security provided by the Ministry of Finance or the central bank is always required.

The assessment of a bank for acceptance as a guarantor or borrower is carried out case by case on the basis of informative documents and taking into account the risk involved.

Country information on commercial practices, business climate, market analyses, law, import procedures, customs duties and international projects and tenders can be found on the website of Germany Trade & Invest (gtai, https://www.gtai.de).

The most important GTAI country information on Africa can be found at a glance on the Africa Business Guide (German version, www.africa-business-guide.de).

You can find more detailed information on the G20 initiative „Compact with Africa“ (www.compactwithafrica.org).