Poland provides loan of 60 million euros to Angola

30 August 2010

Luanda, Angola, 30 Aug – Poland has announced a loan of 60 million euros to Angola for execution of the second phase of creating the Namibe Fishing Academy, according to a statement from the Finance Ministry published Friday in Luanda.

The loan is part of the agreement signed in December 2009 by the Finance Ministries of both countries to fund some projects linked to the Angolan fishing sector.

For execution of the first phase of the project, started in March 2006, a an initial funding agreement was signed for US$14 million.

This new funding is a loan for development support, which will be repaid over 32 years. (macauhub)