China finances construction in Angola with US$1 billion

17 March 2017

The People’s Republic of China over the last two years has provided about US$1 billion to finance construction in Angola, said on Thursday in Luanda the vice president of the Angola-China Chamber of Commerce (CAC).

Chen Song was speaking at the inauguration ceremony of the members of the High Strategic Council of the institution, “an important act that will be part of the history of trade cooperation between the two countries and increase the interest of Chinese and Angolan business people.”

The president of the CAC, Manuel Arnaldo de Sousa Calado, said at the time that the High Strategic Council aims to design and supervise policies to facilitate the implementation of the country’s economic and strategic programmes, contributing to the development of the economic diversification process.

The Angola-China Chamber of Commerce (CAC), which aims to create a working climate that is conducive to interaction and trust between private entrepreneurs from the two countries and enhance trade relations, was set up a year ago and has 616 Angolan and Chinese companies as members, according to Angolan news agency Angop.

The council consists of 54 members from both Angola and China and is chaired by former Angolan member of parliament Lopo Fortunato Ferreira do Nascimento. (macauhub)