Ver Angola

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910 million financed for water supply in Luanda

The President signed an agreement between Angola and a consortium of banks worth US$910 million to finance Bita's water supply project in Luanda.

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Presidential Order No. 90/21, of June 11, states that Standard Chartered Bank (Hong-Kong) Limited, as leader and agent, and BNB Paribas – Credit Agricole Corporative and Investment Bank, are part of the consortium of banks. among other financial institutions that signed the terms of the agreement.

This financing is covered by a guarantee of the International Bank for Reconstruction and Development (IBRD) for a global amount of 500 million dollars.

The document, which revokes Presidential Decree 82/20, of 8 June, authorizes the finance minister to sign the agreements on behalf of Angola.

The Bita Water Supply Project, to be implemented in the municipality of Belas, in Luanda, is valued at more than US$1 million and is expected to benefit more than one million people, with the abstraction of water from the Kwanza River and construction. of a 1600 mm pipeline with a length of six kilometers.