Africa-Press – Angola. Angola signed two memorandums of understanding with several Japanese institutions in Yokohama on Friday to identify new sources of financing for development projects in the country, according to Finance Minister Vera Daves de Sousa.
The agreements were signed with the Japan Bank for International Cooperation (JBIC), Mizuho Financial Group, and Rubank Bank, on the sidelines of the 9th Tokyo International Conference on African Development (TICAD9).
They will operate through the exploitation of the Japanese capital market through the issuance of bonds by Angola.
Speaking to the press in Japan, the Angolan minister explained that the two protocols aim to define procedures to expedite the financing approval and disbursement processes for approved projects.
In addition to these instruments, the minister clarified, Angola signed two other protocols with the Japan International Cooperation Agency (JAICA), under a donation item to the Angolan state, for a donation of approximately US$10 million.
This amount will be intended to finance structuring projects of the electricity sector and in the development of terrestrial digital television, available to Angola’s public television.
Regarding the agreement in the domain of electricity, she said that it aims to finance a transmission line to carry electricity from the province of Huila and Namibe to increasingly consolidate the component of the energy generation process, particularly in the component of the transport and distribution network.
‘Angola already has some investments in production, but we have to reinforce the segment of transport and distribution, so that this Japanese financing aims to make resources available to this strategy,’ she said.
Vera Daves de Sousa said that the occasion also served to establish preliminary dialogues, citing the audience granted by the President of the Republic to the director general of AFC to probe the availability to finance the private initiative.
She argued that the country is looking for, by via public investment or by public-private partnership, reinforcing the executive’s bet on what is transportation and later the distribution and export of the energy that the country produces.
According to the Minister of Finance, the visit has a positive balance, in the sense that Angola has obtained indebtedness in concession terms, with a good period of lack, good interest rate, which translates into lighter benefits.
It also stressed that Japan will also make donations to relevant projects, along with private investment intentions.
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