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Angola: Country to Get 225 Million Euros From Spain's Deutch Bank

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Angola Press Agency (Luanda)

17 April 2008
Posted to the web 17 April 2008

Luanda

Angola will benefit from a 225 million euros from Spain's Deutch Bank, in the ambit of an accord signed between the Ministry of Finance and the mentioned institution, ANGOP has learnt.

For this purpose, Angolan Finance minister, Jose Pedro de Morais, left Wednesday for London, where he will sign on Friday the financing agreement with the Deutch Bank.

This amount will be used in the rehabilitation of roads in some capital cities, in a two-year period, for an eight-year reimbursement time.

The adviser of the Finance minister, the economist Madalena Ramalho, said the project for the rehabilitation of roads was already passed by the Cabinet Council in November 2007.

This is the first time Angola achieves a similar accord in the European market, being the process defined and organised by a bonds subscriptions from various investors.

Relevant Links Central Africa Southern Africa Angola Economy, Business and Finance Legal and Judicial Affairs

Minister Jose Pedro Morais who has travelled to London due to the importance of this accord is to get back home over the weekend.

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