Portugal approvea new credit lines for Angola

By TPN/Lusa, in News, World, Africa, Business · 19-05-2021 13:59:00 · 0 Comments

The Portuguese prime minister said that the Finance Ministry had approved two credit lines for two large projects in Angola, the Lubango bypass and the Muxima infrastructure.

"As well as the credit lines made available in Soyo, two others have now been approved by the Finance Ministry, one for the Lubango ring road and another for the Muxima infrastructure," António Costa said after a bilateral meeting with Angolan President João Lourenço.

The two leaders were present at the Summit for the Financing of African Economies, organised by Emmanuel Macron in Paris, and met bilaterally at the end of the meeting.

"All credit issues that were pending with Angola have now been resolved and investments can go ahead," said António Costa, without giving details of the amounts made available under these credit lines.

The meeting with João Lourenço was short, with the Angolan president preferring not to speak to journalists at the end of the meeting.

As for the conclusions of the summit, the prime minister said that it "exceeded everyone's expectations.

"This conference was focused on finding concrete solutions, bringing together African and European leaders [?] We were all working together to bring together the different funding mechanisms that each one has to give a strong boost to African development," António Costa declared, revealing that he would not be surprised if the support amounted to 100 billion Euros.

As well as his bilateral meeting with João Lourenço, Costa also met in Paris with Presidents Filipe Nyusi, of Mozambique, Abdul Fatah Khalil Al-Sisi, of Egypt, Kaïs Saïed, of Tunisia, and Paul Kagame, of Rwanda.



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