Angola, Japan Bank Sign Memo

Yokohama — Angolan Government and Japan Bank for International Cooperation (JBIC) signed Wednesday a Memorandum of Intent in Yokohama aimed to launch a framework that will define the new financing agreements for Angola.

The document will allow open bilateral discussions and negotiations to fund projects worth USDs 400 million.

Japan, through its institutions, is funding the rehabilitation of Angola's Namibe Port, the fiber optic cable project, textile industry projects and demining programmes.

This was confirmed by the Angolan Finance Minister Archer Mangueira, who is integrating the delegation of President João Lourenço at TICAD7.

He noted that the meeting with the Japanese Bank also served to discuss the unfinanced projects in the area of water, energy, construction and rehabilitation of roads.

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