Angola is going to negotiate another financial package with China

9 June 2015

Angola and China will negotiate “a new financial package to tackle the difficulties” created by the fall in global oil prices, said the Angolan ambassador in Beijing, cited by Angolan news agency Angop.

In a meeting with Angolan journalists before the arrival in Beijing of President José Eduardo dos Santos, the diplomat, João Garcia Bires stressed “the leading role” of China in the reconstruction of the country and hoped that Beijing “continues to be a strategic partner in this difficult phase for Angola. ”

The report from Angolan news agency Angop did not give an amount for the new “financial package” nor did it specify if it would be implemented as a loan or by opening lines of credit, as has happened in the last decade.

Eduardo dos Santos started Monday in Beijing his first visit to China in almost seven years, accompanied by five ministers, including the Ministers of Transport (Augusto Tomás), Trade (Rosa Pacavira) and Energy and Water (João Baptista Borges).

“Several cooperation agreements” will be signed during the visit, a Chinese Foreign Ministry spokesman said last week, without giving any further details. (macauhub/AO/CN)