Ver Angola


Luanda Environmental Technological Center budgeted at 15 million starts operating in June

The Luanda Environmental Technology Center, which is valued at 15 million dollars, will open in June, the month indicated for the first phase work to be completed and, consequently, the project to start. It will also be in June that the second phase of the construction project will begin, expected to be ready at the end of the year, specifically in December.

: Adilson Abel/DW
Adilson Abel/DW  

The 15 million budget, according to Jornal de Angola, will be used in phases, including the value of the land, construction of infrastructure, equipment, among others.

But why did it decide to move forward with the construction of the technological center in the country? Because Angola has enormous potential to influence Sub-Saharan Africa in the environmental sector using technology and financing resources in addition to banking system models.

The justification was given by João Paulo Rosa, general director of Frontline Capital Services – the company in charge of building the project. Speaking to Jornal de Angola, the person responsible explained that an environmental sustainability initiative does not have the capacity to pay an interest rate of around 28 percent, requiring new standards in terms of financing, which end up involving carbon credits, green bonds, as well as a range of private investments with social and environmental impact that enable them to sustain their commitment and implementation of projects.

On the occasion, he also pointed out the irony of the largest private African carbon credit generation operator having its headquarters in the French capital, considering that it should be based in Angola.

"It should be based here in Angola, which is a country that, at the moment, has enormous potential for generating carbon credits, not only based on projects with extraction resources, but also based on blue carbon projects, which are currently being highly profitable worldwide", he stated.

Thus, the person in charge considered that Angola and the African continent, in general, are capable of creating exceptional revenues, based on existing projects and others that, in reality, can be used to increase this carbon credit record, writes Jornal de Angola.

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