April 13, 2009 / 11:29 AM / 10 years ago

Angola says eyes more loans from China

LUANDA (Reuters) - Angola could soon secure more loans from China to rebuild infrastructure and diversify its economy away from oil after an almost three-decade long civil war, Angolan Finance Minister Severim de Morais, said on Monday.

Last month, the African nation received a $1 billion loan from China to develop the agricultural sector. It has received at least $5 billion in oil-backed loans from Beijing since the end of the war in 2002.

“The negotiations with China are not over yet,” de Morais told Reuters on the sidelines of a conference. Asked whether his country could receive more loans, he replied: “possibly”.

He did not provide details as to the amount or the timing of these loans.

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