{"id":228594,"date":"2025-10-20T23:27:10","date_gmt":"2025-10-20T23:27:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/228594\/"},"modified":"2025-10-20T23:27:10","modified_gmt":"2025-10-20T23:27:10","slug":"chinese-loans-fuel-angolas-future-cities-but-analysts-cautious-over-the-costs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/228594\/","title":{"rendered":"Chinese loans fuel Angola\u2019s future cities but analysts cautious over the costs"},"content":{"rendered":"

Since nearly three decades of civil war ended in 2002, Angola<\/a> has been relying heavily on China \u2013 its key financier of post-war infrastructure \u2013 to help the southern African country\u2019s government deliver on its promise of a million new homes.When the West was unwilling to finance its projects, Luanda secured loans from Chinese state banks under the so-called Angolan model<\/a>, using its oil as collateral.Angola became the largest recipient of Chinese financing in Africa<\/a>, attracting 270 loans worth US$46 billion between 2000 and 2023 \u2013 a quarter of all loans advanced to African countries during that period.<\/p>\n

China also funded construction of major cities, like the US$3.5 billion Nova Cidade de Kilamba that was financed through an oil-for-infrastructure deal and built by Chinese companies.<\/p>\n

The city, about 30km (18.6 miles) south of Luanda, was completed in 2012 as part of Angola\u2019s post-civil war national reconstruction but its initial high prices and lack of credit made it unreachable for many.<\/p>\n

The high costs, combined with the development\u2019s location and lack of basic services, kept occupancy low until the Angolan government intervened, dropping prices and introducing long-term mortgages backed by the state oil company Sonangol.<\/p>\n","protected":false},"excerpt":{"rendered":"Since nearly three decades of civil war ended in 2002, Angola has been relying heavily on China \u2013…\n","protected":false},"author":2,"featured_media":228595,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[6074,138088,138094,68783,138089,64,63,138097,99,138095,138092,138091,512,3693,164,138087,138096,138093,138090],"class_list":["post-228594","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-africa","tag-african-countries","tag-agostinho-neto-university","tag-angola","tag-angolan-government","tag-au","tag-australia","tag-benguela","tag-business","tag-cacuaco","tag-capari","tag-carlos-dos-santos","tag-china","tag-chinese-companies","tag-economy","tag-kilamba","tag-luanda","tag-lubango","tag-namibe"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/228594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=228594"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/228594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/228595"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=228594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=228594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=228594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}