4 July 2008
Luanda — Angola and China on Thursday in Luanda signed three complementary individual financing accords, under the Eximbank China credit line, existing between both countries since March 2004.
The first accord concerns an agreement for funding of the project of rehabilitation and expansion of the electrical network of the cities of Dundo (Lunda Norte province) and Saurimo (Lunda Sul), estimated at around USD 50 million.
The second protocol, of individual financing, is designed for the rehabilitation of the residual waters treatment station in Quifangondo (Luanda), the construction of a distribution centre in Cacuaco district, as well as the execution of new house plumbing works, estimated at USD 28.798 million.
The third, signed between the Angolan Finance minister, José Pedro de Morais, and the chairman of Eximbank, Li Ruogu, is designed for the funding for the improvement of streets of the cities of Caxito (Bengo), Uíge and Negage (Uíge), a contract estimated at around USD 56 million.
Documents for the installing of a malaria prevention and combat centre at Luanda General Hospital were signed and exchanged.
In the light of the Chinese financing to Angola, both countries signed in February 2005 nine cooperation agreements, from which five are inter-governmental and four business-related. At the ceremony held at the end of official talks between the two States, on the fringes of the visit of the Chinese prime minister, Zeng Peiyang, to Angola.
Official data state that Angola is the second African country with the greatest trade exchanges with China, after South Africa. The average business volume between the two countries is estimated at USD 4.9 billion a year.
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