ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Economy

Sun, 11 Feb 2018 12:50

Angola and Brazil sign memo of understanding

Luanda - The Angolan and Brazilian governments signed on Friday in Luanda, a memorandum of understanding for the establishment of financial relations, reads a press note from the Ministry of Finance that reached Angop on Saturday.

Send by email

To share this news by email, fill out the information below and click Send

Correct

To report errors in the texts of articles published, fill out the information below and click Send

1 / 1

Agreement signed between Angola's Ministry of Finance and Brazil

Angop learnt that the refereed agreement was signed by the Angolan Finance minister, Archer Mangueira and Brazilian Foreign Affairs minister, Aloysio Nunes. 

According to the agreement Brazil will grant to Angola an amount totaling USD two billion in goods and services, says de document.

On the occasion the Angolan official ensured that the amount made available by Brazil will be used for the implementation of projects under the Public Investment Programme as planned in the State Budget.

The signing of this memorandum of understanding results from negotiations between the parties that have been taking place for about a year and confirm the fulfillment of the responsibilities of Angola in relation to the regularization of debt service and of Brazil in relation to boosting financial facilities, says the document.

To date, Brazil has financed several impact socio-economic projects in the country, with emphasis on the construction of the Laúca Hydroelectric Dam, the Cambambe Dam, the water supply system for the cities of Benguela, Lobito and Catumbela, the Luanda-Viana freeway, Catumbela International Airport, the construction of the Capanda Industrial hub, among others.

Tags Angola  

Read also
  • 29/01/2018 12:15:31

    Inspection services tackle price bubble

    Luanda - The Trade Ministry’s General Inspection Office and the Criminal Investigation Service (SIC) last Friday made monitoring visits to some commercial establishments in Luanda, with the aim of putting an end to the price bubble trend being recorded lately.

  • 09/01/2018 19:17:38

    Angola unveils new model for forest exploitation

    Luanda - Angola will have this year a new licensing model based on forest concession contracts that will grant greater legal security, thus abolishing exploration licenses, announced today the State Secretary of Agriculture for the Forestry area, André Moda.

  • 08/01/2018 13:47:33

    Head of State analyses Sovereign Fund situation, measures

    Luanda - The Angolan Head of State, João Lourenço, on Monday in Luanda said that he has been analysing the measures proposed by the Finance Ministry in relation to the Angolan Sovereign Fund, whose implementation might begin soon.