Angola opens US$180 million credit line for São Tomé and Príncipe

11 December 2013

The Angolan government has opened a credit line worth US$180 million for São Tomé and Príncipe and the respective agreement was signed on Tuesday by the two countries’ finance ministers.

The Angonotícias website reports that the first US$60 million instalment is meant to finance projects approved and included in the public investment programme of São Tomé and Príncipe.

In the scope of this agreement the government of São Tomé and Príncipe committed itself to speeding up efforts to ensure the joint exploitation of oil resources with Equatorial Guinea.

A memorandum of understanding signed last October in Luanda by the two countries’ governments significantly reiterated the need to promote cordial relations and develop and deepen economic and financial cooperation. (macauhub)