Angola owes US$5.6 billion of its loans from Chinese financial institutions

12 December 2011

Luanda, Angola, 12 Dec – Angola still owes US$5.6 billion of the US$9 billion in loans it took out from four Chinese financial institutions, Angola’s Finance Minister Carlos Lopes said Thursday in Luanda.

Replying to questions from members of parliament during a plenary session for discussion of the General State Budget for 2012 the minister said that the loans had been taken out from the China Export Import Bank and The China Development Bank.

In terms of the Exim Bank three agreements were signed, the first for US$2.5 billon, the second for US$2 billion and the third for US$3 billion.

In terms of the China Development Bank, the minister said, a single loan was taken out in the amount of US$1.5 billion. (macauhub)