LUANDA – Angola could soon secure more loans from China to rebuild infrastructure and diversify its economy away from oil after an almost three-decade long civil war, Angolan Finance Minister Severim de Morais, said at the weekend.
Last month, the African nation received a US$1 billion loan from China to develop the agricultural sector. It has received at least US$5 billion in oil-backed loans from Beijing since the end of the war in 2002.
‘The negotiations with China are not over yet,’ de Morais told Reuters on the sidelines of a conference. Asked whether his country could receive more loans, he replied: ‘possibly’.
He did not provide details as to the amount or the timing of these loans.
– Nampa-Reuters
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