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Country Report Angola

  • ID: 2114010
  • February 2016
  • Region: Angola
  • 24 Pages
  • The Economist Intelligence Unit
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The Ministry of Finance has published documents detailing how some US$6bn of Chinese credit will be spent.

According to the ministry, US$5.3bn of the loan will be used to finance 155 public investment projects around the country. These include work on a dam in Kwanza Norte; several new roads and purpose-built industrial hubs; the construction and rehabilitation of hospitals, medical centres, schools, universities, teacher training colleges; upgrade work on Cabinda's airport; domestic water and electricity connections; and irrigation channels to support irrigation projects. In the past, Chinese money has often gone towards big-ticket items such as sports stadiums and government ministries, which have been more about show than utility. However, directing this Chinese money into smaller-scale essential infrastructure projects that are part of the public investment programme is a sensible use of the funds at a time when Angola's public spending is being squeezed by the low price of oil.

As with previous Chinese financing, the bulk of the money will stay in China, and Chinese firms will be paid to carry out the work in Angola. A list has been published of 37 "pre-qualified" READ MORE >

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Country Report Angola

Chinese loans to help pay for public investment programme
Event
Analysis
Impact on the forecast

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