The African Export-Import Bank (Afreximbank) on Wednesday announced a $1.75 billion facility for Angola’s national oil company, Sonangol.
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Afreximbank described the financing as a “syndicated receivables purchase facility” in a statement on its website.
“The $1.75-billion facility is expected to enable Sonangol to meet its operating and capital needs by strengthening export-linked trade structures,” the statement added.
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Image Credit: OilPrice.com
