China’s funding represents a gain for Angola

Luanda – The new China’s funding to Angola represents a gain for the African country, as it will allow the implementation of economic and social projects, Francisco Sachitota has said.

The political analyst said Thursday that the financing will boost domestic production, at a time Angola has been committed to diversification of its economy.

The Angola President JoAPound o Lourenco visited China on 9-10 October at the invitation of his Chinese counterpart Xi Jinping.

The visit enabled the two countries to sign a facilitation agreement providing for funding from the Chinese Development Bank, estimated at USD 2 billion.

Alluding to this issue, the political analyst said that the implementation of economic and social projects will lead to the success of a Programme of Support for Production, Diversification of Exports and Substitutions of Imports (PRODESI), carried out by the Angolan Executive.

The strengthening of national production also plays a key role in this process, aimed at improving the living conditions of Angolans and contributing to the development of the country.

To this purpose, Francisco Sachitota recommended greater strictness in the implementation of short and medium term projects, in order to obtain lasting benefits.

On request of financing, the head of State JoAPound o Lourenco assured to the Chinese Prime minister Li Keqiang that some priority projects have already been identified.

The projects include the second phase of the Integrated Center for Public Security, the new Convention and Hotel Center, Luanda Water Supply System, Zenzo Hydroelectric Plant, Medium and High Voltage Connection of the provinces of Huambo, Huila and Namibe.

The priorities also cover the projects of Zapi-Cacuso rail link, the Luacano-Jimbe rail link,

Benguela Railway to Zambia, a road rehabilitation programme and the new Navy Naval Base.

Speaking to Angop, the Angolan analyst Francisco Sachitota also spoke of the China-Africa Cooperation Forum held in Beijing last September.

He considered the forum a demonstration of China’s strong interest in continuing to cooperate closely with the countries of African continent.

He said that China has become, in the last years, an ideal partner for the materialisation of several projects in the African continent.

According to the university professor, due to the prevailing economic and financial crisis, the African countries are seeking alternative sources for the financing of their economies.

During the forum, Chinese President Xi Jinping pledged about USD 60 billion for African countries.

Source: Angola Press News Agency