Chinese financing to Angola overrides investment, says President Lourenço

The Angolan President, João Manuel Gonçalves Lourenço, said a few days ago in Japan that China’s private investment in the country “is very small” compared to the financing it provides to the Government.

In an interview with the Japanese newspaper Asahi Shimbun, during his recent state visit to the country, João Lourenço explained that what China has done during the last years in Angola was mainly to grant financing lines for the construction and maintenance of public infrastructures.

“Therefore, these are resources that constitute the debt that Angola has with China,” he added.

The head of state assured that Angola will seek to maintain good relations of friendship and cooperation but, above all, honor the commitment to pay the debt to China, “just as it did with the other countries that also granted financing to the country.”

“Regardless of whether the financing is favorable or not, once assumed, those who took the loan must repay under the conditions under which they were negotiated,” stressed the Angolan leader.

With information from Forbes

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