Portugal increases line of funding for Angola to two billion euros

The Portuguese Government increased the line of funding for Angola from 1.5 billion euros to two billion euros. The announcement was made in Luanda during the ceremony to sign two agreements between the Portuguese and Angolan Ministries of Finance on preventing and countering money laundering and terrorist funding, and the contract to fund the first stage of the project to build infrastructure in vila da Muxima.

The Minister of Finance Fernando Medina noted the importance of working "towards having better instruments available to the Portuguese companies so they can better serve the Angolan economy".

Fernando Medina underlined the way Angola has known how to care for its financial credibility, which is "highly appreciated and acknowledged in Portugal", as well as the "very clear manner in which the Angolan Government set its priorities from a perspective of what to do in terms of human capital, infrastructure and diversifying he economic base". 

"We will do this with commitment, but above all with great pleasure, we will do what we can that is within our reach as quickly as possible, by Portuguese companies and the Portuguese state, so we can materialise the investments and projects that will serve the Angolan people", the Portuguese Minister of Finance added.

The Angolan Minister of Finance Vera Daves de Sousa thanked "the increase of the line of funding from 1.5 million to two million euros, news that not just Angola and the Angolan people are thankful for, but also all the Portuguese companies that are motivated and interested in this process to build a new Angola".

Vera Daves de Sousa noted that this visit, just as her visit to Portugal n December "had a deep feeling of camaraderie and open and frank dialogue, set by pragmatism". 

"I am entirely confident that this will be reflected on the practical outcomes of both countries’ financial and economic recovery", she stressed.

The Minister also said that the technical assistance is equally important to Angola, highlighting that the cooperation agreement signed will enable "making the most of the Portuguese Republic’s experience in different fields of public finance, as well as countering money laundering and terrorism funding".

The Minister of Finance also met with the President of Angola, João Lourenço.