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Portugal, Angola create joint investment bank

Portugal, Angola create joint investment bank

Portugal's largest bank and Angolan state oil company Sonangol are creating an investment bank that will finance infrastructure projects in the southwest African country, officials announced Wednesday.
State-owned Caixa Geral de Depositos and Sonangol will set up the bank in the second half of this year with initial capital of 1 billion dollars (781 million euros), officials said at the end of a two-day state visit to Portugal by Angolan President Jose Eduardo dos Santos.
The bank will also support industrial and agricultural development projects in Angola.
Portuguese Prime Minister Jose Socrates said his government will make available a