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EximBank to finance Korean investments in Angola

Luanda, May 1 (Prensa Latina) The EximBank will make allocate one billion dollars to finance companies from the Republic of Korea with investment projects in Angola, the vice president of the financial institution, Hwang Kiyeon, said.

In statements to Angolan media after a meeting with President João Lourenço, Hwang Kiyeon, who is also a member of the bank’s board of directors, noted that the sectors to be benefited will be determined by Angola, but he considered that the expansion of the electricity network might be included.

Kiyeon pointed out that both parties had several negotiations, but in the dialogue with the president they addressed the expansion of financing, taking into account that the Framework Agreement will soon be signed. They also dealt with with issues of economic cooperation.

They referred to the role that the EximBank could play in the economic expansion between the two countries, and commented on the programs and packages to provide credits that the institution has, where the Cooperation and Economic Development Fund stands out.

According to the Angolan Presidency, Lourenço left Seoul on May 1 for the United States.

On Tuesday, Angola and the Republic of Korea signed four cooperation agreements in the fields of trade, health care, public order and diplomacy, in the presence of the presidents of the two countries.