Africa-Press – Angola. The republics of Angola and China this Wednesday signed a financing agreement worth US$249 million to support the broadband project in the country.
China’s Concessional loan agreement for Angola was signed by the Minister of Finance, Vera Daves, and the Chinese ambassador, Gong Tao.
Vera Daves de Sousa said at the time that the loan, in the amount of US$249 million, was granted by the Import and Export Bank of China/EXIMBANK, without oil collateral, and is in line with the strategy adopted by the Executive for indebtedness and public debt management, with a view to ensuring its sustainability.
The official considers the signing of the agreement to be significant, since it has a very particular importance for Angola, as it “symbolizes the strength of the political, economic and financial cooperation relations between the two countries”.
Due to the characteristics of the agreement, she said that it will contribute to the development, even more, of friendly relations and promote economic and technical cooperation between both countries.
When highlighting the conditions of the agreement, Vera Daves de Sousa highlighted the fact that it is a Framework agreement for Concessional Loan, under conditions, for Angola, more favorable than market conditions.
The same agreement has a maturity period of up to twenty years, and without associated collateral, which, for the head of Finance, demonstrates confidence, as well as the availability of the People’s Republic of China to support, in a participatory way, the development of Angola.
On his turn, the Ambassador of the People’s Republic of China in Angola, Gong Tao, emphasized his country’s will to continue to support Angola in the field of Telecommunications, improvement of Digital service and Digital Transformation, as well as in economic areas and other sectors of society .
For Pascoal Fernandes, Secretary of State for Telecommunications and Information Technologies, the financing will bring gains and will lead to the improvement of communications in the various provinces of the country and, consequently, will improve the quality of the service provided to the population.
The National Broadband Network is an infrastructure that allows enormous gains of scale for the national economy, favoring technological innovation and boosting productivity in various services, whether public or private.
The act was attended by the Secretaries of State for Telecommunications and Information Technologies, Pascoal Fernandes, and for Finance and Treasury, Ottoniel dos Santos, the senior leadership of the Public Debt Management Unit and officials from the Ministerial Departments and the Chinese Embassy.
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