Angola to donate 3 million euros to Cape Verde as collateral for a commercial loan

14 August 2006

Praia, Cape Verde, 14 Aug – Angola is going to donate 3 million euros to Cape Verde as collateral for a commercial loan for the construction of various infrastructures in the city of Praia, officials said.

The agreement for this donation was singed on Friday after a two-day meeting between the Cape Verde/Angola partnership commission (co-presided by Cape Verdean Infrastructure, Transport and Sea minister Manuel Inocêncio) and Angolan public works minister Higino Carneiro.

Manuel Inocêncio said that with this agreement, Angola is helping Cape Verde create infrastructures for an important part of Praia, with construction work that is of great importance for the capital of the country

“Specifically the agreement includes pavement renovation for Plateau, construction of stretches of highway in various areas, and the construction of the road that links Praia to the San Francisco area, which has a very important tourist development,” he said.

Manuel Inocêncio also said that Angola provided to Cape Verde an important tranche for agriculture in the Kaunza-Sul province, in the municipal area of Quibala, and the creation of a mixed agricultural company to manage this land is under review.

Manuel Inocêncio said that as part of the economic and business partnership, Angola has manifested its interest in the privatization of Transportes Aéreos de Cabo-Verde (TACV), Cape Verdean ports as well as the fuel business.

Sonangol has manifested its interest in taking part in the building of a mini-refinery that plans to supply oil derivatives to the local market and excess supply to the regional market, and is also interested in being an independent electricity supplier via non-renewable energy sources. (macauhub)