Angola: Investment protection agreement to be signed with France

26 May 2008

Luanda, Angola, 26 May – Na agreement to protect investments is due to be signed between Angola and France, the French President, Nicola Sarkozy said during ameeting with the French community in the Angolan capital.

According to Angolan news agency Angop, at the meeting, held at the Luand French School, Sarkozy said that signing the deal was likely to encourage commercial and financial trade between the two countries.

Sarkozy also announced that the French Development Agency – the financial arm of French foreign policy, which is involved in several African countries – would this year return to funding projects and granting loans to Angola.

He said that France would respond to Angola’s needs, and during a meeting with Angolan president, José Eduardo dos Santos, a decision had been made to set up a France/Angola foundation, to bring together funding from the countries’ public and private sectors.

During Sarkozy’s visit, Thales, the largest European manufacturer of electronic military equipment, announced a 140 million-euro contract to provide military and civil telecommunications equipment to the Angolan government.

It was also announced that Societé Generale had opened up a 300 million-euro credit line to fund bilateral trade. (macauhub)