UK announces loan of $73 million to Angola for agricultural project

The United Kingdom Export Finance (UKEF) has announced a loan of $73 million to the government of Angola for an agricultural project by engineering and development specialist. that will help develop the Angolan economy. UK's Secretary of State for International Trade, Dr. Liam Fox made the announcement of UKEF support for INCATUK to deliver Angolan agricultural project and develop the economy.

Dr. Liam said, "This project will have a marked impact on Angola's future economy and I am delighted UK expertise continues to play a leading role in shaping growth and development around the world. This is an exciting example of how support provided by our award-winning export credit agency UK Export Finance (UKEF) is enabling UK companies to meet their true export potential."

.@LiamFox announces our support for an #agricultural project that will help to develop the Angolan economy through activities including improving #roads and rehabilitating #farms. https://t.co/U83Z4KDKvx pic.twitter.com/dqolP58xxn

— UK Export Finance (@UKEF) July 22, 2019

The project forms part of the Angolan Government's efforts to develop the economy and will help reduce the $1.5 billion the country spends importing food every year. It will include an array of activities including providing power lines, training farmers, improving roads and rehabilitating farms neglected during the civil war.