The funds will be managed by the African Development Bank (AfDB), which will provide additional financing for the project in Benguela province.
João Lourenço
President João Lourenço vows to find money to improve sector which will benefit agriculture, science and education.
Figures for this year equally promising, having reached US$14.42 billion by end of June; oil and ornamental stones head Angolan exports.
Drop in oil price led to reappraisal of economic relationship; old partners, like Brazilian conglomerate Novonor, gradually return to sub-Saharan republic.
Lowering debt burden seen as substantial victory for ruling party in run-up to elections later this year.
Estimated US$2.7 billion invested by 48 countries in mining, telecommunications, civil construction, education, health, tourism, fishing and agriculture, among others.
More than 100 ships expected every year; new airport also on drawing board as part of province’s growing infrastructure.
Project includes 150 kilometre canal expected to benefit 250,000 people and irrigate 5,000 hectares of arable land.
Construction expected to start in Porto Amboim within the next 12 months, creating 8,000 local jobs in future.
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