Luanda – Angola’s Cabinet Council Friday in Luanda analysed the Presidential Decree that creates the State Public Debt Management Unit, an entity that reports to the chief of the Government, tasked with coordinating, controlling and supervising internal and external public debt.

The purpose of the creation of the unit is to improve the mechanisms of control and management of public debt, in line with the principles of legality and good financial management, in order to contribute to a better economy, efficacy and efficiency in public expenditures.

On the other hand, the Cabinet Council approved a financial accord with  Germany’s Comerzbank, estimated at 500 million Euros, a Usd 250 million credit line with the also German BHF bank and an advance to the financial accord with Luminar Finance, to fund national reconstruction projects.

The Cabinet also analysed a financial accord with the Government of Poland, estimated at Usd 60 million, for the conclusion of the construction of the Maritime Science Academy in south-western Namibe province.