Luanda — Two accords on the implementation of various projects for Angola's development were this Monday here signed between the Angolan and South Korean governments.

The protocols were signed by the Angolan Foreign Affairs deputy minister, George Chikoty, and by the ambassador of South Korea to Angola, Han Jae-Young.

In the light of the accords, South Korea will grant a loan to Angola estimated at USD 179 million, divided into two phases (49 and 130 million dollars, respectively).

The first agreement concerns the funding of a project for bird meet processing, whose complex shall be installed in the northern Malanje province, whilst the second shall be for the implementation of a series of programmes for the development of the country.

Speaking to the press, George Chikoty considered that the Korean credit shows the will of Seoul authorities to contribute to the reconstruction process and to the efforts being made by the Angolan government.

With regards to accords, the diplomat announced that South Korean authorities expressed the intention to also participate, through their institutions, in the construction of residences in Angola.

Concerning this aspect, the Foreign Affairs deputy minister stressed that the issue shall be analysed in the coming months between the authorities of the two countries, so as to reach an agreement, because, according to George Chikoty, "the Korean participation shall contribute to the creation of employment and reduction of poverty".

On his turn, the South Korean ambassador stressed that his country considers that at the moment Angola is its most import partner, "that emerges as one of the main nations of the African continent and which has a great diplomatic importance in the region".

The ambassador of Korea started residing in Luanda last December, whilst Angola increased its diplomatic representation in Seoul to the category of Embassy, foreseeing the reinforcement of the bilateral cooperation.