Russia wants to grant Angola credit for infrastructure projects

26 November 2019

Russia has US$10 billion available to fund infrastructure projects in Angola, the deputy chairman of the Russian Federation’s Parliamentary Committee on International Relations said on Monday in Luanda.

Chepa Alexey said that the projects are mainly related to the energy sector, namely the construction of hydroelectric dams, wind power generation, solar panels and power transmission lines, as well as the financing of roads, homes and other infrastructure.

Speaking on the eve of a hearing given by the President of the Republic, João Lourenço, Alexey also said that the amount available was from a credit line jointly established by the Russian Federation, the Russian private sector and international investors, Angolan news agency Angop reported.

Angola and Russia have had privileged relations since 8 October, 1976, when the Treaty of Friendship and Cooperation was signed in Moscow, the capital of the former Union of Soviet Socialist Republics (USSR).

Cooperation is most significant in the energy, geology and mining, higher education, staff training, defense and security, telecommunications and information technology, fisheries, transport, finance and banking. (Macauhub)