Poland to loan US$36 million to Angola for fisheries sector

2 March 2006

Luanda, Angola, 02 March – The Polish government is to grant a US$36 million loan to Angola to finance projects in the fisheries sector, including the purchase of fishing vessels and the creation of a higher education institution for fisheries (Instituto Superior das Pescas), officials said Thursday.

The agreements were signed Tuesday in Luanda between the Angolan and Polish governments, following negotiations between them which began in Warsaw in September 2005.

The first agreement granted a US$14 million loan for educational projects, 85 percent of which will be applied to construction, equipment and implementation of the educational program of Instituto Superior das Pescas, which will be located in Namibe, on Angola’s southern Atlantic coast.

The second agreement signed Thursday involves granting a US$22 million loan to fund fishing sector projects, 85 percent of which will be used to build shrimp fishing vessels.

Eugeniusz Rzelvuski, Poland’s ambassador in Angola, said that soon another agreement would be signed between the two countries for Poland to take part in building the future Instituto Superior das Pescas, in defining its curriculum and its teaching staff.

Angola’s Finance Minister, José Pedro de Morais, said that the agreements set up “new rules” for financial cooperation that Angola had been setting up with its main economic partners.

“We have been working intensively to definitively solve the issue of our foreign state debt, which we have managed to do with some countries,” he said.

Angola’s debt to Poland is estimated to be around US$60 million. (macauhub)