[2019-08-29] Japanese bank JBIC discusses project financing with the Angolan government

Source: Macauhub

A document that will frame bilateral negotiations to fund projects worth US$400 million in Angolan territory was signed on Wednesday in Yokohama between the Angolan government and the Japanese Bank for International Cooperation (JBIC).

Angolan Finance Minister Archer Mangueira, who is part of President João Lourenco’s entourage at the Tokyo International Conference on African Development 2019 (TICAD), said that the meeting with the Japanese public bank also served to discuss unfunded projects in the fields of water, energy, construction and road repairs.

The meeting, which took place on the sidelines of the seventh edition of TICAD, which will run from Wednesday to Friday in Yokohama, took stock of ongoing projects, said the minister, quoted by the Angop news agency.

Archer Mangueira recalled that Angola had US$1 billion in financing for the textile industry, and in March this year it signed individual financing agreements for Namibe’s US$600 million integrated project.

Transport Minister Ricardo de Abreu said that the Namibe Bay project is the main one Angola has with Japan and will boost port and rail infrastructure, especially the Moçâmedes Railway.

The Angolan delegation and the managers of the Japanese bank also addressed the possibility of extending the railway lines from Angola to Namibia and Zambia, based on a public-private partnership, “to increase freight transport, mainly ores, from the interior of the continent to exporting ports.”