According to the presidential dispatch consulted by Lusa, the aim is to lay the foundations for "improving the provision of services in Angola, within the scope of the National Strategic Plan for Territorial Administration".
The funding serves to "support the Government of Angola in increasing the volume and reliability of transfers of fiscal powers to municipalities to strengthen their capacities in financial and land management".
In another dispatch, João Lourenço approved agreements with the English financial institution HSBC, in the amount of 146 million euros to finance 87 percent of the value of the commercial contract and 100 percent of the insurance premium for the Construction Project of the Solar Photovoltaic Power Plant in Cabinda and another 23 million euros for the 'down payment' of the contract and risk mitigation fee.
In a third presidential order, also published on February 28, agreements are approved with Banco Bilbao Vizcaya Argentaria, S.A, worth around 108 million dollars, with coverage by the Spanish Export Credit Agency «CESCE», and 4.9 million dollars, via commercial credit, for the materialization and payment of the initial installment of the 220 kV Electric Power Transmission Line Gove-Matala (Huíla province).
