Angolan deputy prime minister calls for Brazilian credit line to be increased

6 September 2006

Luanda, Angola, 06 Sept – Angola’s deputy prime minister, SAguinaldo Jaime, speaking Tuesday in Luanda called for an increase in Brazil’s credit line to Angola, saying that it would boost cooperation between the two countries.

“The credit line set up by the Angola National Bank and the Bank of Brazil has been an essential instrument for making projects to modernize our economy and refurbish our infrastructures feasible,” said Jaime, who was making a speech at a seminar on relations between the two countries.

In May 2005, during a visit by Angolan president, José Eduardo dos Santos to Brazil, the concession of a US$580 million credit line was signed, which was to be made available in three yearly amounts until 2007.

Brazilian exports to Angola have been increasing and in 2005 totaled some US$520 million.

In the first seven months of the year they totaled US$416 million, according to the most recent official figures.(macauhub)