Saudi Arabia grants over US$100 million to Angola

The Kingdom of Saudi Arabia has approved the granting of a loan worth US$110 million for the implementation of an industrial project in the municipality of Catumbela, Angolan province of Benguela.

This was confirmed Wednesday to the press by that country’s Counselor of the Royal Court Ahmed Bin Abbulazizi Kattan at the end of an audience the Angolan president João Lourenço granted to him in Luanda.

Ahmed Bin Abbulazizi Kattan, who did not specify the industrial project, said the meeting with the Angolan Head of State discussed, among other issues, the exchange of information of interest to both countries.

Ahmed Bin Kattan said, precisely, he had informed the Angolan Head of State about the instructions from the King of Saudi Arabia to the Ministry of Foreign Affairs of that country on the opening of the Embassy in Angola, as soon as possible.

João Lourenço was also briefed on the preparations for the Saudi Arabia-Africa Summit set for November in the Middle East country.

In recent years, the political and diplomatic authorities of Angola and the Kingdom of Saudi Arabia have been working on strengthening bilateral cooperation and identifying new areas to deepen the partnership.

In September 2018, the two countries signed a General Cooperation Agreement in the Technical and Scientific domain.

The deal launched foundations to leverage the sectors of staff training and science development.

Angola and Saudi Arabia also maintain cooperation under the Organisation of Petroleum Exporting Countries (OPEC).

Source: Angola Press News Agency (APNA)