Angola takes $2bn of Chinese funding

Angola has signed a $2bn loan from China Development Bank, putting more debt onto the sovereign balance sheet as the country’s oil company seeks to borrow from commercial lenders.

  • By Mike Turner
  • 11 Oct 2018

The Angolan ministry of finance and state-owned China Development Bank signed the financing on Tuesday, according to Angolan state press.

The funds will be used mainly to support exports.

As of September, Angola owed China around $23bn, according to finance minister Archer Mangueira said. 

The financing comes at a time ...

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