The Export Import Bank of South Korea has provided a loan of US$49 million to Angola for the recovery of the premises of fish processing company Edipesca, located in Boavista, in Luanda, under an agreement signed on Wednesday in the Angolan capital.
The agreement, signed by the director of the Office of Studies, Planning and Statistics of the Ministry of Fisheries, Isabel Cristóvão and the representative of the South Korean bank, Choi Hong-Suk, will also be used to build new facilities to improve fish processing.
The Minister of Fisheries, Victoria de Barros Neto, said at the end of the ceremony that the idea is to rebuild the old facility and build a new two-storey building to expand capacity for freezing, storage and fish processing.
Barros Neto noted Angola’s limitations in terms of the cold chain and distribution of fish and considered the support from South Korea both in the reconstruction and construction of new Edipesca facilities as well as the creation of a more effective distribution network.
Empresa Distribuidora dos Produtos da Pesca (Edipesca) was established in 1984 when Angola had a planned economy model and had a monopoly on distribution of fish in the north and east of the country.
In 1991, due to changes in the political and economic framework (multiparty system and market economy), the company was privatised until 2004, when the Ministry of Fisheries took on responsibility for it as a way of becoming the fish market regulator. (macauhub)