Credit line from China focuses on water and energy sectors in Angola

22 January 2016

About half of China’s Credit Line (CCL) granted to Angola will be used in 34 projects in the field of energy and water, particularly the rehabilitation and strengthening of the water supply system to Cabinda costing US$209 million.

Of the US$5.2 billion granted to Angola by China the energy and water sector will receive US$2.1 billion for construction of 34 projects that will provide jobs to over 42,000 people.

The construction sector will feature 33 projects worth US$1.6 billion and 55 education projects will receive US$373 million.

The province of Luanda, with 18 projects will receive about one-fifth of the total investment (US$1 billion), followed by Huambo province, with US$776 million and 12 projects.

The information is included in the Angolan government document on the work to be undertaken by Chinese companies under the CCL, which estimates around 365,000 jobs will be created.

The document, to which Portuguese news agency Lusa had access, includes a list of 37 Chinese companies “recommended to the Angolan market.” (macauhub/CN/AO)