Angola pays off total debt owed to Italy

4 June 2007

Luanda, Angola, 4 June – Angola has aid off the entire debt it owed to Italy, estimated to total US$350 million, the Italian ambassador Torquato Cardilli said Saturday in Luanda, during a ceremony to celebrate the 61st anniversary of the founding of the Italian Republic.

According to the Italian diplomat, cited by Angolan news agency Angop, fulfilling that financial obligation, which has existed since 1991, allied to the fact that Angola had ratified a bilateral agreement to promote and protect investments, was one of the bases for re-launching cooperation between the two countries.

As part of development cooperation, Cardili said that his country had granted, over the last few years, financing for two de-mining programs and one for emergency sanitation.

In the short term the Italian government is preparing to conclude a justice program for minors, while it is also planning projects for universities and enhancing the maternity ward of Divina Providencia Hospital, in Luanda.

Italy has provided emergency aid and donations to the Angola population, estimated to total over US$250 million. (macauhub)