Luanda - The joint report approving Angola's ratification of the Africa Finance Corporation accession agreement was approved, specifically with 23 votes in favour, with no votes against or abstentions.
According to the redactor, Felino Job, the agreement aims to respond to investment needs in infrastructure in the transport, logistics, energy, mining and oil sectors.
On the other hand, with Angola's accession to the Africa Finance Corporation, the State will also have access to various services and benefits that include project development, financial advice and capital investment, as well as ease of welcoming the private sector.
He also said that it will allow for the deepening of bilateral cooperation between the country and the financial institution, increase the country's exposure limit and the opportunity to generate profits in dollars for each capital subscription of the Africa Finance Corporation.
Felino Job revealed that the Africa Finance Corporation has already participated in the Sonangol Capex project, which resulted in the financing of operational expenses worth USD 45 million.
He also said that the institution has a portfolio to finance around eight projects in Angola, in the preparation and development phase, worth USD 150 million.
The official added that the institution is an ideal partner that would complement the efforts of the government in the diversification of the economy, taking into account its portfolio of projects in preparation is aligned with the objectives of the National Development Plan 2018-2022.
The Africa Finance Corporation is a continental financial institution created in 2007, mostly private, with the aim of meeting investment needs in African infrastructure.
MGM/SC/MRA/jmc
