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Wednesday 16 June 2021
HomeAfricaSpain earmarks 500m euros for investment in Angola

Spain earmarks 500m euros for investment in Angola

Spain has earmarked 500 million euros for its business people who are interested in investing in Angola, the economic and commercial adviser at the Spanish Embassy in Luanda, Mr. Manuel Sanchez Melero, said Monday.

Speaking at a meeting between Spanish and Angolan business people, Melero said the money was provided by public and private institutions linked to the financial sector.

He also said that in 2011, trade between the two countries was estimated at between 800 million and 1 billion euros, compared to 750 million euros in 2010.

Angola imports medicines, machines as well as industrial and farming equipment from Spain, while the European country is the second African oil exporter to Spain, after Nigeria.

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