The New York Times published on 28 November 2024 an article titled "One of Biden's Closest Allies in Africa Is Ready to Court Trump" by John Eligon.
Angolan President Joao Lourenco commented in an interview that his government is no longer interested in taking loans from China that are tied to repayment in oil. He added that Angola does not believe it is necessary to choose between China and the United States.
The Angola Press News Agency published on 17 March 2024 an article titled "Angolan President Ends Official Visit to China."
The official Angolan press agency emphasized that President Joao Lourenco's visit to China focused on the need to renegotiate Angola's debt to China, which totals about $17 billion. Of this total, about $12 billion is with the China Development Bank and China Export Import Bank, where the loan agreements contain "oil collateral and repayment clauses that overload" Angola's debt service capability.
China and Angola signed 12 agreements to strengthen cooperation in sectors such as trade, agriculture, sustainable development, and digital infrastructure. Some 30 Angolan companies participated in the Angola-China Business Forum. President Lourenco also visited Shandong Province. He said the visit to China opened a new era in "bilateral cooperation and strategic partnership."
The South China Morning Post published on 9 December 2023 an article titled "US Makes US$2 Billion Commitment to Angola as Oil-rich Nation Eyes Move Beyond Chinese Funding Model."
China has funded most infrastructure projects in Angola this century. The United States is set to finance $2 billion worth of solar power, bridges, internet network, and the Lobito Corridor Railway Line from Zambia to the Angolan coast via the Democratic Republic of Congo. The project, which includes European Union participation, is seen as a counter to China's Belt and Road Initiative.
