According to the presidential order dated February 6, and published this Monday in Diário da República, which approves the framework financing agreement to be signed by the Minister of Finance, the granting of this credit is part of the need to ensure continuity Government program regarding the execution of projects included in the Public Investment Program.
The order signed by João Lourenço also mentions the executive's strategy with regard to diversifying the sources of financing for these projects aimed at the country's economic and social development.
Angola was visited on Friday by German Chancellor Angela Merkel, with both heads of state expressing their commitment to strengthening bilateral cooperation.
In addition to signing commercial agreements and memoranda of understanding in the areas of energy, transport and infrastructure, Merkel said that Angola may be the 13th country to join Compact with Africa, an initiative that aims to promote private investment in the continent.
KfW IPEX-Bank is a subsidiary of the KfW group aimed at supporting international projects and export financing.