{"id":90601,"date":"2025-10-20T19:11:10","date_gmt":"2025-10-20T19:11:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/90601\/"},"modified":"2025-10-20T19:11:10","modified_gmt":"2025-10-20T19:11:10","slug":"chinese-loans-fuel-angolas-future-cities-but-analysts-cautious-over-the-costs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/90601\/","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":90602,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[190,68145,68151,14345,68146,68154,138,68152,68149,68148,607,30769,219,68144,68153,68150,68147,111,139,69],"class_list":{"0":"post-90601","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-africa","9":"tag-african-countries","10":"tag-agostinho-neto-university","11":"tag-angola","12":"tag-angolan-government","13":"tag-benguela","14":"tag-business","15":"tag-cacuaco","16":"tag-capari","17":"tag-carlos-dos-santos","18":"tag-china","19":"tag-chinese-companies","20":"tag-economy","21":"tag-kilamba","22":"tag-luanda","23":"tag-lubango","24":"tag-namibe","25":"tag-new-zealand","26":"tag-newzealand","27":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/90601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=90601"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/90601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/90602"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=90601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=90601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=90601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}