Ver Angola


Finances authorize guarantees from the Portuguese State to Angola of more than 500 million euros

The government authorized this Monday the issuance of Portuguese state guarantees to the Angolan State of 592.2 million euros, totaling about 522 million euros of investment and warranty commissions, for three projects in Angola.


Authorizations were given in three orders signed by the Minister of Finance, Fernando Medina, published in Diário da República, and realize the one already announced this Monday in Luanda, increased credit line to Angola.

One of the orders is authorized "the State's personal guarantee" to the obligations to be hired by the Republic of Angola, with Caixa Geral de Depósitos (CGD) "in the global value of 273,537,097.05 euros" for the mobility project in the province of Cabinda (Cabinda-Miconje axis).

The second warranty has the "global value of 195,417,579.74 euros", as part of a direct financing to the importer, "resulting from the execution of the rehabilitation project of EN 250 (Lumege-Cameia-Luacano-LUAU) Moxico Province".

The third personal personal guarantee of the Portuguese State to be hired by the Republic of Angola, with the CGD, as the previous ones, has the overall value of 123,236,996.81 euros and is intended for the execution of the completion and repair project of highway n'zeto (Soyo).

These operations are "strategic interest for the internationalization of the Portuguese economy and the promotion of economic relations with the Republic of Angola", bases the Portuguese government.

The guarantees are granted under the Portugal-Angola Convention, regarding the coverage of credit risks to the export of goods and services of Portuguese origin to Angola.

The governments of Angola and Portugal signed, in Luanda, 13 bilateral cooperation agreements, especially in the economic and financial domains, in a ceremony chaired by the head of state, João Lourenço, and the Portuguese Prime Minister, António Costa.

One of the agreements signed by Finance Minister Fernando Medina was precisely the increase in the business line of 1.5 billion euros to two billion euros.

In the statements to journalists, the Portuguese Prime Minister had already mentioned that 13 agreements between the two countries were reached, because in recent days Caixa Geral de Depósitos has closed three financing contracts.


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