Banque Mondiale (The World Bank ) and Agence Française de Développement (AFD) have just signed a $500 million financing agreement with the Angolan authorities in Bita.
The financial institutions are thus supporting the implementation of the Bita drinking water project which will benefit 7.5 million people in Luanda and its surroundings.
The project to supply drinking water to Luanda from Bita has received new funding. This involves US$500 million granted by the World Bank and the French Development Agency (AFD). The financing agreement was signed recently in Luanda by the Angolan Minister of Finance, Vera Daves, the World Bank regional director for Angola, Jean Christoph Carret, and the director of the French Development Agency (AFD) in Angola, Souchet Louis-Antoine.
In all, Angola has secured US$1.867 trillion in funding, including some for budget support, the Power Sector Improvement and Access Project and the Girls’ Empowerment and Learning for All Project (Patt II). The Luanda drinking water project thus registers its second financing after that of the African Export-Import Bank (Afreximbank), a pan-African multilateral trade finance institution created in 1993 under the auspices of the African Development Bank (ADB).
The Luanda drinking water supply project via Bita, which has received 500 million dollars in financing from the World Bank and AFD, will require a total investment of 900 million dollars. The project will be implemented by a consortium made up of the French group Suez, Mota Engil, a Portuguese construction company and Soares da Costa, a civil construction company based in Porto, Portugal.