Angolan government repays US$5.09 mln debt to CRBC

23 June 2020

The Angolan government paid back this year the debt of 3.05 billion kwanzas (about US$5.09 million) it owed to Chinese state-owned contractor China Road and Bridge Corp. (CRBC), which it built up between 2013 and 2018, an official document shows.

The Angolan Finance Ministry document indicates that CRBC accepted Angolan treasury bonds in settlement of most of the debt, and tax offsets in settlement of some of it.

In 2017 the Angolan state-run news agency, Angop, reported that CRBC was building the first deep-water port in Angola, in the northwestern province of Cabinda, to be paid for in part with US$600 million borrowed from the Export and Import Bank of China.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):