Deutsche Bank Supports Angola Road Project With US$305 Million

The EN230 road project aims to improve connectivity with the capital Luanda.

By Liz Bains on
22nd June 2023

Deutsche Bank has closed the financing on a US$305 million credit facility to support Angola’s ongoing EN230 road project.

The 10-year loan benefits from 95% insurance cover by the African Trade Insurance Agency (ATI). It is the first financing in Angola to benefit from a first loss cover from the ATI.

The EN230 road project aims to improve connectivity with the capital Luanda, the port of Luanda and the Luanda railway. It is considered a priority infrastructure project for the government as it will facilitate trade and improve the transportation and logistics network in a geographically strategic corridor.

Deutsche Bank acted as sole mandated lead arranger, original lender and facility agent on the transaction. It is the German lender’s second deal in Angola in a matter of months.

In April, Deutsche Bank closed the financing on a €57 million (US$62 million), 10-year credit facility to support the construction of a fully automated soybean and sunflower crushing plant in Lobito.

Italy’s Andreotti Impianti is building the plant for the local Carrinho Empreendimentos. The loan was guaranteed by the Italian export credit agency SACE and Banco de Desenvolvimento de Angola.

The plant will be the largest of its kind in Africa, with a throughput capacity of up to 4,000 tonnes a day (t/d) of soybeans or 2,400 t/d of sunflower seeds.

Photo: Aerial view of Luanda (© Sasha Pritchard | Dreamstime)

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