Foreign media: Since the end of the civil war 30 years ago in 2002, Angola has promoted post-war reconstruction with strong support from China, making China its main infrastructure financing provider.
When the West refused to provide loans, Angola obtained funds from China's state bank by mortgaging its oil, known as the "Angola model". From 2000 to 2023, Angola received a total of 270 Chinese loans amounting to 46 billion US dollars, accounting for a quarter of China's loans to Africa during the same period.
Chinese companies have also participated in the construction of several new cities, among which the most representative is the Kilamba New City, costing 3.5 billion US dollars, located about 30 kilometers from the capital Luanda. The project was completed in 2012, but due to high housing prices and insufficient credit, the initial occupancy rate was extremely low. Later, the government gradually increased the resident occupancy rate by reducing prices and providing long-term mortgages through the state-owned oil company Sonangol.
Original article: www.toutiao.com/article/1846511813504128/
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