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FILE PHOTO: Eni s logo in San Donato Milanese, near Milan, Italy, April 27, 2016. REUTERS/Stefano Rellandini/File Photo
MILAN (Reuters) - Italian energy group Eni plans to spend around $7 billion in Angola over the next four years along with its partners in a country it sees as key to its future growth strategy.
The money will be invested by Eni and its joint venture partners in the country in exploration and production, refining and solar energy.
The plans were discussed in a meeting between Angolan President Joao Lourenco and Eni CEO Claudio Descalzi on Tuesday, and confirmed by Eni on Wednesday.
April 10, 2021
LUANDA (AFP) – Angola’s President Joao Lourenco vowed on Thursday to resolve the country’s staggering debt in a bid to encourage business investment from Spain, as the two nations seek to bolster their trade ties.
Africa’s second-largest oil exporter is buckling under spiraling debt following a decline in crude prices and the economic setbacks of the coronavirus pandemic.
Speaking during an official visit by Spain’s Prime Minister Pedro Sanchez, the Angolan leader admitted debt was often an “inhibiting factor” for Spanish entrepreneurs and other potential investors.
“In this regard I want to convey some reassurance,” Lourenco said.
2021-04-09 10:35:46 GMT2021-04-09 18:35:46(Beijing Time) Xinhua English
LUANDA, April 9 (Xinhua) Spanish Prime Minister Pedro Sanchez has announced financial support worth 250 million Euros to help with exports of Angola s business sector.
Sanches is in Angola for an official visit at the invitation of the Angolan head of state, Joao Lourenco.
Speaking at the Angola-Spain Economic Forum Thursday, the Spanish prime minister said the referred amount is essentially intended for the implementation of various projects in the fields of agriculture and industry.
Sanches underlined his country s support to the southern African country s efforts in the diversification of the economy that is heavily dependent on oil.