1. Home
  2. News Releases
  3. Back Issues
  4. January FY2019
  5. NEXI and the Ministry of Finance, the Republic of Angola, Signed a Letter Agreement Witnessed by METI State Minister Seki

NEXI and the Ministry of Finance, the Republic of Angola, Signed a Letter Agreement Witnessed by METI State Minister Seki

January 10, 2019

On January 10 (Thur.), 2019, witnessed by Mr. Yoshihiro Seki, State Minister of Economy, Trade and Industry, the Nippon Export and Investment Insurance (NEXI) and the Ministry of Finance, the Republic of Angola, signed a Letter Agreement on trade insurance concerning port development in Angola.

1. Outline of the signing ceremony

Date: January 10 (Thur.), 2019
Venue: METI
Signees:

Witnesses:

2. Efforts under the agreement

Under this Letter Agreement, NEXI is expected to establish trade insurance to cover private bank financing in terms of the credit line to be set between the Japan Bank for International Cooperation (JBIC) and the Ministry of Finance, Angola.

Specifically, such insurance will be utilized for the project led by the Ministry of Transport, Angola, for development of the Port of Namibe, located about 1,000km south from the capital city Luanda, in which Japanese companies will participate. This is the first large port-development project in Africa for Japanese companies to participate in. This effort is expected to encourage other projects and lead to expansion of business development by Japanese companies in Angola.

Division in Charge

Trade Finance Division, Trade and Economic Cooperation Bureau

Related website