Standard Chartered Secures $1.1Bln Financing for Angola Water Project

Standard Chartered on Monday announced that it had secured $1.1 billion in financing for the Angolan government’s water supply project in the capital Luanda.

The money comes from two sources: a $910 million loan backed by a partial World Bank guarantee and a $165 million loan secured by France’s export credit agency.

The project aims to improve access to drinking water for the capital’s over 2 million residents.

The financing will be used for investments in water production, transmission and distribution facilities, including a water treatment plant, storage facilities and new networks, Standard Chartered said in a statement.

By supporting key infrastructure projects in South Luanda, the project will help enhance access to cost-effective water, health, and education services while also increasing hygiene and availability of safe water in more underprivileged areas.

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The project will also assist the development of human capital through improved health outcomes and also strengthen the resilience of Luanda’s water delivery system to climate shocks.

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