Portugal Boosts Credit Line by €750M for Companies Investing in Angola

The Portuguese government has announced a significant increase in the credit line available to Portuguese companies looking to invest in Angola. Prime Minister Luís Montenegro revealed the decision during a meeting with Angolan President João Lourenço, who is on an official visit to Portugal. The credit line, now bolstered by an additional €750 million, is a testament to the growing economic ties between the two nations.

This move represents a 62.5% increase in the credit line over just 12 months, showcasing Portugal's confidence in Angola's future. The funds, accessible through the Banco de Fomento, aim to support Portuguese businesses in their Angolan ventures.

President Lourenço expressed gratitude for Portugal's support, highlighting how the credit line has been instrumental in rebuilding Angola's infrastructure, including schools, hospitals, and bridges. "The credit line from Portugal has helped us construct or rebuild the infrastructure our country needs in various sectors," he stated.

Montenegro also emphasized Portugal's commitment to facilitating Angolan citizens' integration into the Portuguese labor market and society. "We are creating preferential conditions for Angolan citizens to access our labor market and fully integrate into our social dynamics," he said.

Lourenço likened the Portugal-Angola relationship to a beautiful flower that requires constant care, "Our relations are good, very good indeed, but friendship must continue to be nurtured." He also announced plans to honor Portuguese figures during Angola's 50th independence anniversary celebrations in November.

The visit comes amid ongoing changes to Portugal's foreign entry laws and nationality legislation, affecting citizens from Portuguese-speaking countries.