Angola: Luanda plans to obtain preferential credit from European countries

31 January 2008

Luanda, Angola, 31 Jan – the government of Angola plans to diversify it credit and obtaining funding from European Union countries, the deputy prime minister, Aguinaldo Jaime, said in Luanda Tuesday.

“The Angolan government, despite having privileged relations with the People’s Republic of China due to the magnitude of credits that that country is placing out its disposal, plans to diversify its partnerships,” Jaime said in an interview on Angola’s national television station.

“We have loans form China, but we need others from European Union countries,” he said, noting that this was one of the reasons why Angola had repaid its debts to the Paris Club.

According to Jaime, this opens up the possibility for countries such as the United Kingdom, France and Spain to provide preferential credit to Angola to leverage growth and development.

The deputy minister also noted that, along with the payment of debts to the Paris Club, the country had already paid the debt to some Paris Club member countries, such as Portugal, Spain and Poland, on a bilateral basis.

In the same interview, Jaime said that Angola’s level of indebtedness was “under control.” (macauhub)