China lends US$6 billion to Angola

16 October 2015

Angola has taken on loans worth US$6 billion in China, announced Thursday in Luanda the Angolan vice president, Manuel Vicente, when presented the annual state of the nation address to members of the country’s parliament.

“Angola has taken on loans in China worth about US$6 billion, intended for public investment in education, health, water, electricity and roads, and the government has already approved the operational plan to ensure implementation of identified projects in 2016 and in 2017,” said Vicente.

Vice President Manuel Vicente was speaking to Members of the National Assembly at the beginning of the new parliamentary year in the annual state of the nation address, on behalf of the President.

The monetary value of the agreements reached during the state visit of José Eduardo dos Santos to China last June, had not been disclosed to date.

The speech from the head of state, read by the Vice President, also said that the value of Angola’s public debt amounts to about 45.8 percent of Gross Domestic Product (GDP) projected for 2015.

The same speech also announced a downward revision to 4 percent, of the GDP growth forecast, compared with the previous 6.6 percent indicated in the 2015 General State Budget, revised in March. (macauhub/AO/CN)