13 April 2017

Angola: Fisheries Ministry and Exim Bank Sign Deal to Rebuild Edipesca

Luanda — The Ministry of Fisheries and the Export and Import Bank of South Korea (EXIM BANK) signed on Wednesday a financing agreement amounting to USD 49 million for the rehabilitation of the facilities of the fish processing company EDIPESCA in Luanda.

The agreement, signed by the director of the Planning and Statistics Studies Office of the Ministry of Fisheries, Isabel Cristóvão, and the representative of EXIM BANK of South Korea, Choi Hong-Suk, also aims to channel capital for the construction of new infrastructures that will facilitate and improve the fish processing.

Speaking to the press, after signing the agreement, Fisheries Minister Victória de Barros Neto said that the idea is to rebuild the old infrastructures and build a new two-storey building to expand the fish conservation and processing.

The official also recognized the limitations of Angola regarding the fish cooling and distribution chain, as well as its preparation for the foreign market.

So, she considers it useful to request the Angolan government's support for South Koreans not only to finance the reconstruction and construction of new infrastructures, but also to assist in the creation of a more efficient logistics distribution network for fishers, taking into account the experience of the Asians in this field.

On his turn, the representative of EXIM BANK, Choi Hong-Suk, said that this is the first major project funded by his institution.

He explained that the repayment period for the financing will be 40 years.

According to statistics from the Ministry of Fisheries, the level of fish during 2016 was around more than 500.000 tons of fish, with greater emphasis on pelagic species such as horse mackerel and sardines.

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