China announces partial pardon of Angola’s debt

6 June 2017

China has pardoned Angola of a debt of 97.37 million yuan (US$14.3 million) equivalent to the value of two loans granted under economic and technical cooperation agreements, and the pardon document was signed on Monday in Luanda.

The document was signed at the end of official talks held at the Angolan Foreign Ministry following a four-day visit by the State Councilor of the Council of the People’s Republic of China, Wang Yong, which began last Sunday.

On behalf of Angola, the negotiations were led by the Minister of State and Head of the Security of the House of the President of the Republic, Manuel Hélder Vieira Dias “Kopelipa” and by Wang Yong on the Chinese side.

Angolan state newspaper Jornal de Angola disclosed the amount of the pardon now granted by China and Angolan news agency Angop noted that China had decided to allow Angola not to pay back two interest-free loans that had entered repayment period in December 2015.

At Angola’s request, China also agreed to carry out the feasibility study of the Integrated Technological Training Centre, and it was decided that a team of Chinese technicians would be sent to do so.

“The expenses resulting from the feasibility study of 1.3 million yuan will be borne by the donation established under the Agreement on Technical and Economic Cooperation between the governments of China and Angola signed on 5 June 2015,” the agency said.

The agreement was signed by the Secretary of State for Cooperation Angela Bragança and China’s ambassador to Angola, Cui Aimin. (macauhub)