Africa-Press – Angola. The Portuguese government announced on Friday in Lisbon the reinforcement of the credit line of Banco Portuguese de Fomento for operations of Portuguese companies in Angola, in the amount of 750 million euros.
With this new amount, the total volume of the financing line now amounts to 3,250 million euros, representing a growth of 62.5 percent in the space of one year.
The announcement was made by the Prime Minister of Portugal, Luís Montenegro, during the signing ceremony of new legal instruments of bilateral cooperation, which took place at the Ministry of Foreign Affairs, with the presence of the President of the Republic of Angola, João Lourenço, on a three-day official visit to the European country.
“We are talking about an increase from 2 million to 3,250 million euros in one year. This financial instrument is an important contribution to boosting economic relations between the two countries,” Luís Montenegro said.
At the occasion, he underlined the positive impact on trade and the strengthening of the strategic partnership between the two countries.
The Head of the Portuguese Government justified the reinforcement with the good implementation of the agreements signed a year ago and with the growing environment of trust between the two nations. He also highlighted that the instrument could be expanded, if the current pace of implementation is maintained.
“More than partners for all hours, we are, in fact, brother countries”, Luís Montenegro said, reiterating Portugal’s commitment to a common future based on economic growth and social cohesion.
In the same ceremony, new legal instruments for bilateral cooperation were signed, covering the areas of promotion of foreign investment, land transport, civil protection and public security.
Portugal is currently Angola’s second largest trading partner, with about 1,250 Portuguese companies operating in Angolan territory. Bilateral cooperation extends to sectors such as the economy, education, health, justice, technical and vocational training, tourism and infrastructure.
Symbol of confidence
For the Portuguese Prime Minister, President João Lourenço visit to Portugal is highly symbolic, not only because it takes place in the year in which Angola celebrates the 50th anniversary of its independence, but also because he currently holds African Union chairpersonship.
Strengthened bilateral relations
The visit of the Angolan statesman is part of the strengthening of diplomatic, economic and cultural relations between the two Portuguese-speaking countries, whose cooperation has seen significant advances in recent years.
Angola and Portugal maintain historical ties and a partnership based on values of friendship, mutual respect and common interests, with bilateral cooperation being a strategic instrument for the development of both peoples.
For More News And Analysis About Angola Follow Africa-Press
