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EU increases Angola’s Covid-19 response by €20 million

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Angola and the European Union held a ministerial meeting co-chaired by the Minister for External Relations of Angola, Tete Antonio and the EU’s chief foreign minister, Josep Borrell.

The meeting covered a broad range of topics that include political and security issues, the upcoming EU-AU summit, the COVID impact and response, the future of EU-Angola bilateral cooperation and trade and investment relations.

Angola has faced serious recessionary pressures, linked to a combination of factors including a severe reduction in oil revenue and the COVID-19 pandemic. President Joao Lourenço, elected in 2017, has dedicated his leadership to modernising the economy, improving the business and investment climate and deepening the democratic system.

The EU has subsequently announced an additional € 20 million funding to support Angola’s Covid-19 socio-economic response including economic restructuring. A business event focused on specific value chains will be organised in the coming months. One of the concrete actions that is already being launched in Angola is the development of coffee production, processing and marketing, developing a resource that can generate jobs and added value for the country.

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