Angola signs a loan for strategic projects

24 May 2018

Angola has taken on a US$700 million loan from Credit Suisse to cover strategic projects, and the respective contract was approved in a presidential dispatch published in the country’s official gazette, Diário da República.

The Angolan news agency also reported that the presidential dispatch, which does not specify the strategic projects where the amount will be spent, authorises the finance minister to sign the credit line and ensure that the necessary documentation is prepared.

Another presidential dispatch published in the same Diário da República approves the agreement to be signed between the Ministry of Finance and Banco Angolano de Investimento (BAI) to take on a loan worth 15 billion kwanzas (US$64 million) to pay for the purchase food and medicines for the Ministry of the Interior and the Security House of the President of the Republic.

This order explains the loan with the need to guarantee that the food and drug logistics needs of the two agencies are met. (macauhub)