Africa-Press – Angola. South Korea’s EximBank has made available a total of 1 billion US dollars credit line to fund the modernization of the fishing sector and the construction of an industrial fish processing and cold storage complex in Angola.
According to a statement, Angola and South Korea signed a financing agreement, based on a framework agreement, under the Economic Development Cooperation Fund until 2028.
The agreement signed on Monday in Luanda by the Angola Minister of Finance, Vera Daves de Sousa, and the South Korean Ambassador, Kwang Jin Choi,aims to restructure and modernize the fishing sector, promote industrial processing, and better use of marine resources, reduce fish waste and improve storage conditions.
It also aims to contribute to food and nutritional security in the country and increase the supply of quality processed products for domestic consumption and export.
In the first phase, the line will disburse 59 million US dollars for the implementation of the fish processing and cold storage facilities project.
The Angolan minister highlighted the importance of the agreement as it strengthens bilateral relations and mutual commitment to sustainable growth and socioeconomic development for both countries.
Vera Daves said that it allows financing of strategic projects in key areas such as infrastructure, energy, transportation, techs, health, and education, promoting the national economy diversification.
The South Korean diplomat on his turn, considered the moment significant, as it marks the 33rd anniversary of the establishment of both countries diplomatic ties.
He stated that his country reaffirms its commitment to continue cooperating to strengthen bilateral relations with Angola and that it congratulates the 50th anniversary of Angola’s independence and the 80th anniversary of the liberation of the Republic of Korea.
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