Angop - Agência de Notícias Angola Press

Angola gets USD 2bln funding from Brazil

Sat, 10 Feb 2018 11:02 - Politics

Luanda - Angola benefits from USD 2 billion financing line granted by Brazilian Government, said Friday the Foreign Affairs minister of Brazil.

  • President João Lourenço (R), meets with Brazilian minister of Foreign Afairss, Aloysio Nunes
  • Foreign minister of Brazil, Aloysio Nunes
  • President João Lourenço (R), meets with Brazilian minister of Foreign Afairss, Aloysio Nunes

 Aloysio Nunes, who was speaking at the end of an audience granted to him by president, João Lourenço, assured that the amount will be supported by Brazilian National Development Bank (BNDES).

According to him, the initiative is part of the fulfilment of a pledge made by the Brazilian Head of State, Michel Temer, during a meeting with the Angolan counterpart at World Economic Forum in Davos, Switzerland, last January.

The funding is expected to cover potential sectors, such as the construction, energy and water.

According to the top diplomat, the meeting held on Friday served to reaffirm Brazil's commitment to re-launch bilateral cooperation and strengthening the strategic partnership between the States.

 Angola/Brazil cooperation cover the areas of health, education, defence, agriculture, telecommunications, culture and fisheries.

Brazil was the first country to recognise Angola's independence in 1975.