Standard Chartered arranges $1.1bn financing for Angola water project

Standard Chartered said on Monday, 6 September, that it had arranged $1.1bn of financing for the Angolan government for a water supply project that will serve its capital Luanda.
Source: Reuters/Bobby Yip
Source: Reuters/Bobby Yip

The funding is made up of two loans - a $910m facility supported by a partial World Bank guarantee, and $165m backed 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.


SOURCE

Reuters
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