africa Angola Diplomacy Economy Finance Government Legislation

Angola: Economic diplomacy mobilises US$11.2M

Approximate reading time: 1 minute

The diplomatic campaign of President João Lourenço, which took him to several European and Asian countries, resulted in the mobilisation of financing estimated at USD 11.2 billion.

The president’s trips outside the country intended to strengthen co-operation and attract foreign investment have enabled the mobilisation of USD 500 million from the UKEF (England), the issuing of USD 3.5 million in Eurobonds, revealed João Lourenço last Monday, at the National Assembly (Parliament), during the session that marked the opening of the 2018/2019 Legislative Year.

The Head of Sate and of the Executive disclosed also that his diplomatic contacts brought about for the country a credit of USD 500 million granted by the Credit Agricole company and USD 79 million euros from the Development Agency, both from France.

The Executive also mobilised a USD 500 million credit from the KFW bank of Germany, over 500 million euros from Portugal’s COSEC, following the Portuguese Premier’s visit to Angola.

The presidential diplomatic campaign also mobilised USD 2 billion from the China Development Bank (CDB), USD 3.5 billion from the ICBC (China) and over USD 620 million from the Chinese Eximbank.

In addition to the referred financing, the Angolan government also received from the African Development Bank (AfDB) USD 110 million to boost agriculture, a project that is being implemented in the northern Cabinda Province.

Source: Angop

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.