JBIC concluded a loan agreement in buyer's credit (export loan) with Banco de Desenvolvimento de Angola (BDA), the state-owned development bank of Angola. The loan is intended to provide part of the financing, through BDA, necessary for Angola Cables S.A.,*1 an Angolan telecom operator, to construct a complete optical submarine cable system, measuring a total length of approximately 6,200 km, for a project directly connecting Angola and Brazil. This project will lay the world's first optical submarine cable across the South Atlantic, directly linking the African continent to South America, manufactured and laid by NEC Corporation (NEC) and its subcontractors, applying the latest technologies with the world's highest standards in data transmission capacity, connectivity, and amplification.
This loan is provided as financial support under the JBIC Facility for African Investment and Trade Enhancement (FAITH), which was established in accordance with the Fifth Tokyo International Conference on African Development (TICAD V), and is also in line with the Japanese government policy pertaining to "Infrastructure System Export Strategy" (revised in FY2015).
- *1Angola Cables S.A.: 51% of the company's shares are held by state-owned Angola Telecom, and the rest by four private Angolan telecommunications companies.