February 25, 2005

Chinese government grants new loan

Nine new cooperation agreements, being five inter-governmental and four business-related ones, have been signed between Angola and China. The inter-governmental agreements include the cooperation in the fields of energetic, and minerals resources and of infrastructures, and the respective Memorandum of Understanding on the Cooperation Commission in this area. The third agreement is economic and technical, which entails a new funding from the Chinese government to Angola worth around USD 6.3 million, free of interests. Signing it were the Angolan Finance Minister, Jose Pedro de Morais, and the Chinese Deputy Minister of Trade, Wei Jianguo.
The remaining agreement refers to the cooperation between the ministries of Oil and of Geology and Mining of Angola and the National Commission for China's Development and Reform, whose signatories were respectively Desidério Costa, Manuel Africano and Zhang Guobao. On the other hand, the business-related agreements include long-term supply of oil by the Angolan Oil Society (Sonangol) to his Chinese similar Sinopec. The last agreement signed is about a phone networking between the Chinese Group ZTE Corporation Internacional and the Angolan Mundostartel, worth USD 69 million. (Angola Press Agency, Luanda)

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