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
- H.E. Mr. Augusto Archer de Sousa Mangueira, Minister of Finance, Angola
- Mr. Kohei Okada, Senior Managing Executive Officer, Member of Board, NEXI
- State Minister Seki
- H.E. Mr. Diamantino Pedro Azevedo, Minister of Mineral Resources and Petroleum, H.E. Mr. Ricardo Daniel Sandao Viegas de Abreu, Minister of Transport, and H.E. Mr. Rui Orlando Xavier, Ambassador Extraordinary and Plenipotentiary of the Republic of Angola to Japan, Angola
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