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Angola: Country Signs Euro 225 Million Deal With Deutch Bank of Spain
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Angola Press Agency (Luanda)
18 April 2008
Posted to the web 18 April 2008
Luanda
The Angolan Finance Minister, José Pedro de Morais, is due to sign on Friday, in London, England, a financing agreement with the Deutch Bank of Spain, estimated at 225 millions euros for the rehabilitation of roads in some capital cities of the country.
br> Economist Madalena Ramalho, adviser to Finance Minister, told Angop, Wednesday, that the amount will be refunded in eight years, starting the process in two years, adding more six years later on.
br> He said that Angola has a line of credit offered by the Deutch Bank of Spain, but the finance to be conceded today is not part of it.
br> This is the first time Angola benefits from an agreement of this type in the Europe funding market, as the process was defined and organised by subscription of titles of many investors
br> The amount will serve to finance projects of roads rehabilitation and other road infrastructures in Luanda, Kuando Kubango, Moxico and Kwanza-Norte provinces and others to be integrated in the initial programme.
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br> Minister José Pedro de Morais who travelled to London on Wednesday he is due to return home at the weekend.
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