The Governor of the National Bank of Angola, José Pedro de Morais, sees advantages arising from the financing deals China and the African nation signed earlier this month, Portuguese news agency Lusa reported.

“It is an advantage. I believe it is,” he said on the sidelines of a ceremony in the capital Luanda on financial literacy in Angola.

But the central bank boss declined to elaborate on the financial arrangements made in China this month when Angolan President, José Eduardo dos Santos, paid an official visit to the world’s second largest economy.

According to several sources cited by Lusa, the total value of the deals was worth between US$22 billion and US$25 billion, bringing the total amount of Chinese financial support to Angola since 2004 to over US$40 billion.

Among the new agreements, China’s state-owned Industrial and Commercial Bank (ICBC) agreed to provide a US$840-million loan for an Angolan power project.