Argentina to open up US$100 million credit line to Angola

17 May 2012

The Argentinean government plans this year to open up a credit line of US$100 million to support development in Angola, particularly in the agricultural and industrial sectors, the Argentinean ambassador in Angola said Wednesday in Luanda.

“The government is preparing a credit line of US$100 million to set up partnerships between Angolan and Argentinean businesspeople with a very low rate of interest, of around 2 percent, with a five-year no-payment period,” Juan Agustin Caballero told Angolan news agency Angop.

Caballero said that the funding would be used for agricultural, technological and other programmes linked to the food sector, as these were the areas chosen by the Angolan authorities.

Noting that this was the first credit line offered to Angola by Argentina, the ambassador said that its aim was to encourage two-way trade based on Angola’s needs.

Meanwhile, the Argentina Technological Products and Systems Fair due to be held in Luanda on Friday and Saturday will be opened by the South American country’s president, Cristina Fernandez de Kirchner, due to arrive Thursday in Luanda for an official visit. (macauhub)