Lending from China to Angola exceeds US$60 billion over 35 years

11 January 2018

China has granted Angola loans worth more than US$60 billion since the two countries established diplomatic relations on 12 January, 1983, the Chinese ambassador to Angola, Cui Aimin, wrote in an article published in state newspaper Jornal de Angola entitled, “Starting a new journey in the strategic partnership between China and Angola.”

“This amount,” continued the ambassador, “has been used to construct numerous infrastructure projects, such as power stations, roads, bridges, hospitals and houses, encouraging economic development and improving the lives of the people of Angola.”

In the article, which recalls 35 years of bilateral relations, Cui Aimin points out that the results of pragmatic cooperation have been fruitful, with China being Angola’s largest trading partner, while Angola is China’s largest oil supplier in Africa.

The ambassador recalls that at the end of 2016 the China-Angola Investment Forum was held in Luanda, which resulted in the conclusion of 48 investment intention agreements totalling US$1.2 billion.

“Cooperation mechanisms have also been improved, in particular by the Commission for Economic and Trade Cooperation between China and Angola, with the Chinese side providing training to more than 2,500 Angolan staff and 300 scholarships,” the article said.

After 35 years of bilateral relations, Ambassador Cui Aimin said that Sino-Angolan relations are “at their best” and “an example of mutual benefit and common development cooperation between China and African countries.” (macauhub)