Brazil opens up credit line for Sao Tome and Principe

28 June 2007

Sao Tome, Sao Tome and Principe, 28 June – Brazil plans to provide the economic operators of Sao Tome and Principe with a credit line for import of Brazilian products, a representative of the Sao Tome government said Wednesday in Sao Tome.

Speaking to journalists, the Sao Tome minister of Infrastructure, Delfim Neves, announced that the granting of the credit line by the Brazilian government was the result of bilateral economic cooperation to re-launch trade relations between the countries.

Before the first use of the credit line, expected to occur this year, the representative of the Sao Tome government said that a specific agreement in this trade partnership would be signed.

Neves said the strategy aimed to capitalize on the Sao Tome business community through financing of cooperation partners, namely Brazil, in order to encourage trade activities and re-launch the country’s economy.

As well as cooperation in the area of the economy, focused on Brazil’s availability to take part in the process of oil drilling in the Sao Tome archipelago, Brazil has also cooperated in the area of education, mainly by providing grants to students from the archipelago. (macauhub)