BEIJING, Oct 12 (BERNAMA-NNN-ANGOP) -- Angola's Finance minister, Archer Mangueira, said that part of the Chinese government's USD 2 billion financing, will be used to pay debts the government owes to Chinese creditors.
Speaking to the press in BEIJING, following the agreements signed between the Angolan and Chinese governments, the minister said the authorities intend with this credit granted, to make a medium and long-term amortization of the debt.
The credit line is part of the agreement signed by Angola’s Finance Ministry and China Development Bank (CDB), in the framework of the recent visit of the Angolan president, João Lourenço.
Without specifying the interest rate to be applied under the new credit line and payback terms, the Angolan official, said the new financing from China is destined to the execution of projects, which create incomes for the country.
“ It will be destined to financing projects that can leverage the productive sector, in such a way that, in a medium and long-term could increase the volume of revenues, mainly of those turned to exportation”, said the minister.....