Angola: China’s Eximbank looks to boost presence in Angolan market

19 December 2008

Beijing, China, 19 Dec – Eximbank CEO Li Ruobu has said the Chinese financial institution could expand its participation in reconstruction projects in Angola, state news agency Angop has reported.

Li said Thursday after talks with visiting Angolan President Jose Eduardo dos Santos that his bank plans expanded cooperation with the Angolan Finance Ministry, in addition to strengthening an existing line of credit of around US$ 5 billion already granted to Angola.

President dos Santos, winding up a three-day visit to China Friday aimed to strengthen cooperation in more areas with the Asian country, also met the CEO of the Sinohydro Corporation, Fan Jixiang. Primarily geared to civil construction, Sinohydro employs around 3,000 Angolans in a portfolio of 70 projects, 25 of which have been concluded.

Fan Jixiang told reporters after meeting Angola’s leader that his firm also wants to develop hydroelectric power ventures and noted that sports stadiums under construction by Sinohydro in the cities of Benguela and Lubango “will be delivered on schedule as agreed.” (macauhub)