Brazil plans to invest R$500 million in Africa over next three years

30/10/2003 - 19h09

Brasília - By the end of president Luiz Inácio Lula da Silva's first term of office, in 2006, the Brazilian government intends to invest over R$ 500 million in agriculture, health and education in São Tomé and Príncipe, Angola, Moçambique, Namíbia and South Africa.

This week president Lula is visiting those five countries.

According to the head of the Africa Department at the Foreign Ministry, Pedro Motta Coelho Pinto, those funds are just part of a first phase of Brazil-African agreements. "The R$500 million is really a conservative figure. It could be much more. We still have a lot of scholarships to distribute," said Pinto. "The trip by the president will go beyond politics and economics and focus on a social agenda. We have strong cultural and historical ties that we want to reinforce." (AB)