China, Angola discuss China's new credit line of over $1 bln 2009-03-13 07:08:45   Print

    LUANDA, March 12 (Xinhua) -- Visiting President of China Development Bank (CDB) Chen Yuan and Angolan President Jose Eduardo dos Santos here on Thursday discussed the possibility of the CDB offering over one billion U.S. dollars for Angola's agricultural development project.

    After the meeting with the Angolan president, Chen Yuan said his discussion with President Dos Santos is aimed at strengthening bilateral cooperation in agriculture and financing sectors between China and Angola.

    "We are ready to grant a credit line of over one billion U.S. dollars, but we think that this amount is not enough and may be increased to respond to the concrete needs of Angola in the domains of agriculture, grain production and agriculture products processing," Chen said.

    The Chinese banking official also said that other Chinese financing of social and economic projects in Angola may be granted this year, stressing that he has confidence in the Angolan government and believes that the perspectives of cooperation are "very good".

    According to Chen, the global financial crisis should be used by developing countries like Angola and China as an opportunity to increase and strengthen their cooperation.

Editor: Xiong Tong
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