Brazil has credit line for Angola calculated at over US$5 billion

23 November 2011

Luanda, Angola, 23 Nov – Brazil has a credit lien for Angola of over US$5 billion, which may be increased if necessary, Brazil’s Minister for Development, Industry and Foreign Trade said Tuesday in Luanda.

Speaking on his arrival in the Angolan capital, Fernando Pimentel, who is accompanied by a delegation of ministry officials and 53 businesspeople, said that the team was in Angola to discuss financing for investment projects in Angola, as part of the credit line.

According to the minister, the credit line is “very important” and in order to analyse the possibility of boosting cooperation between Brazil and Angola, a team of technicians would meet in the next few days in Luanda.

“There is a possibility of increasing the credit line, but this depends on talks with the Angolan government,” he said.

Pimentel also said that the business mission aimed to deal with matters of interest to companies from both countries with a view to increasing exports to Angola and the import of products from Angola to Brazil.

In 2010 Angola was the third-largest market for Brazilian products in Africa and the fourth largest African exporter to Brazil and the presence of Brazilian companies in the countries is a sign of a boost to the two-way trade and investment relationship the countries have. (macauhub)