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Angola to sign an $11 billion credit line agreement with China for development projects

Monday, 17 September 2018 18:36

(Ecofin Agency) - China would grant $11 billion to Angola, Macauhub indicated last week quoting Africa Monitor.

According to the media, the fund would be provided as a credit line that would help Angola fund 78 development projects in the infrastructure sector notably.

The new agreement concluded by the two countries outside the FOCAC, should be signed during Angola’s president Joao Lourenço’s visit to his Chinese peer on October 12, 2018.  

Let’s remind that during the last Forum on China-Africa Cooperation, China’s president Xi Jinping announced a $60 billion investment to help many African countries like Angola. During the event, Angola’s finance minister Archer Mangueira estimated his country’s debt to be $23 billion.  

Moutiou Adjibi Nourou

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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