Ver Angola

Economy

Angola approves financing of 85 million dollars with Chinese state-owned defense company

Angola has approved an 85 million dollars financing framework agreement with the China National Aero-Technology Import & Export Corporation, which operates in the defense and aviation sector.

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According to the presidential order to which Lusa had access, the agreement includes "supply of equipment, military means and assistance services", not specified, to the national defense sector.

The diploma mentions the "need to strengthen the control of airspace, as well as land, to safeguard national strategic objectives," without giving details about the areas that will be strengthened.

It is up to the Minister of Finance, representing the Republic of Angola, to sign the agreement with the Chinese company, as well as all the necessary documentation.

China National Aero-Technology Import & Export Corporation is already present in Angola, and is currently linked to the construction of the New Luanda International Airport (NAIL), having previously (2017) purchased military equipment for the Angolan Air Force worth $238 million.

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