Delegation of China’s Eximbank analyzes bilateral cooperation in Luanda

28 September 2007

Luanda, Angola, 28 Sept – A delegation of Chinese state bank Eximbank has been in Luanda since Wednesday to meet with the Angolan government in order to analyze agreements underway and define new lines of cooperation.

Angolan Finance minister, José Pedro de Morais said that the visit was part of the general financing agreement signed in March this year in Beijing by his ministry and the Eximbank.

“We signed a first cooperation agreement worth US$2 billion, the first phase of which is almost complete. The projects for the second phase, which represent a further US$1 billion, are already being executed,” he said.

According to the minister cooperation is going well and Angola has given priority, in this first phase, to transport, electricity, construction of schools and the road that links the city of Caxito to Uíge.

He also said that Angola planned to use the remaining 50 percent for building work in central hospitals in Lubango, Huambo and Malanje and several health centers throughout the country.

The second phase, is linked to work on the Palace of Justice, the University campus and telecommunications and fishing vessel building.

According to the minister, these projects, which are already underway, could be delivered during 2008.

“I think we now have conditions to look at other sectors, but we are going to carry out an assessment of the first financing package and define guidelines for the future,” he said.

The Chinese government, through the Eximbank, over the last three years has granted over US$4.4 billion in loans to Angola, to be repaid in barrels of oil. (macauhub)