Officials from Angola and Industrial and Commercial Bank of China have signed an agreement for Angola to borrow US$4.5 billion to build a hydroelectric dam on the Kwanza River, Angop reports.
The Angolan news agency says Finance Minister Archer Mangueira and representatives of ICBC signed the agreement in the Mainland last week.
The report says the project is expected to generate electricity that could be exported to neighbouring countries such as Namibia and South Africa.
During his China visit, Mr Mangueira and representatives of the Development Bank of China also discussed the details of 25 agreements on funding 41 projects in Angola in fields including construction, energy and transport, Angop says.
