Angola Secures €225.26M Financing for Earth Observation Satellite System from Société Générale
Angola secures €225.26M from Société Générale to fund a satellite system, meteorology upgrades, and medicine quality lab expansion.
As part of the visit of the President of the Republic to Paris, France, the Minister of Finance, Vera Daves de Sousa, signed this Friday, January 17, Financing Agreements to cover the Project for the Design, Manufacturing and Supply of an Earth Observation Satellite System.
The agreements between the Government of Angola and the financial institution Société Générale, in the amounts of 35,268,507.00 euros and 189,988,694.00 euros, totaling 225,257,201.00 euros, aim to finance the construction, launch and installation of a Satellite in Orbit by the European Company AIRBUS.
Still with the French bank Société Générale, the Minister of Finance signed two technical instruments to create conditions for financing:
- Phase 2 of the National Meteorological Service Modernization Project, aimed at expanding the national seismology network and services associated with aviation, the oil and gas industry; agriculture and the armed forces;
- The Rehabilitation and Expansion Project of the former Luanda Medicine Quality Control Laboratory, with the aim of modernizing, expanding and providing state-of-the-art equipment.
The signing ceremony of the agreements was part of the work program of the Angola-France Economic Forum, an event that officially concluded the state visit of the President of the Republic, João Lourenço, to France.
