China funds Angolan broadband project with US$249 million

China will provide US$249 million to fund a national broadband project in Angola, under the terms of a financing agreement signed on the 11th of January in Luanda between the two governments. Angola’s Finance Minister Vera Daves and the Chinese ambassador to Angola Gong Tao were the signatories of the agreement.

According to the Angolan minister, this is a loan with more favourable conditions for Angola than market conditions, with a maturity period of up to 20 years and without associated collateral conditions.

“We are talking about the implementation of around 2,000 kilometres of terrestrial fibre optics that will make it possible to reach areas not yet reached by telecommunications services. And we also have a microwave segment that will allow strengthening communications in Cabinda,” said the Angolan Secretary of State for Telecommunications and Information Technology.

(Source: SAPO)