ADEX signs Dhs445 million green finance agreements with Angola – Gulf Today

ADEX signs Dhs445 million green finance agreements with Angola – Gulf Today

Top officials during the signing ceremony.

The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), signed two green finance agreements with the government of Angola, valued at Dhs445 million ($121.3 million). The financing is provided in cooperation with Standard Chartered Bank.

One agreement, valued at Dhs330 million ($90 million), relates to the acquisition of an analytical platform, main data centre, backup data centre and national cloud platform in order to strengthen the Angolan IT sector. The project will be carried out by Presight, a G42 company, which specializes in big data analysis powered by artificial intelligence and cloud computing.

The other agreement, valued at Dhs115 million ($31.3 million), will allow Mark Cables, a UAE company specialized in manufacturing cables, lighting, water, and electrification projects, to install and maintain streetlights in the cities of Luanda, Malanje, N’dalatando and Uíge.

The two agreements were