Luanda: Angola has received a financial portfolio of over 3 billion U.S. dollars from the World Bank to finance infrastructure projects related to electricity and water, the Minister of Energy and Water, Joo Baptista Borges, announced on Tuesday. Speaking to the press on the sidelines of the 3rd Summit for Infrastructure Development in Africa, which began on Tuesday in the Angolan capital, the minister described the World Bank as the largest multilateral financier of infrastructure in the country.
According to Angola Press News Agency, in terms of water supply, the minister highlighted the financing of the Bita project, worth over 1 billion US dollars, and the PDISA II project, valued at 500 million US dollars, in partnership with the French Development Agency. In relation to energy, the minister highlighted the financing for the interconnection of the provinces of Hula and Cunene, valued at USD 700 million, as well as the connection to the electricity grid of the Republic of Namibia, which will soon be developed.
Alongside the World Bank, the country also receives funding from the African Development Bank (AfDB) for relevant projects. It is currently financing the interconnection between Huambo and Hula, with an investment of around 400 million US dollars, while in the water sector, the AfDB is financing projects estimated at 300 million US dollars.
Joo Baptista Borges said that Angola has also started working with the African Finance Corporation on an energy production project and other economically viable projects that are of interest to the private sector.
The Summit was opened by the chairperson of the African Union and President of Angola, Joo Louren§o, with a speech that focused on the need for Africa to mobilize around 170 billion US dollars to develop infrastructure projects, such as roads, railways, ports, and airports, with a view to integrating its markets.
It brings together more than 2,000 delegates, including investors, representatives of international financial institutions, experts, and policymakers. Participants will discuss the promotion of Public-Private Partnerships (PPPs), the encouragement of sustainable investment, and the acceleration of the Program for Infrastructure Development in Africa (PIDA), which prioritizes regional connectivity, digital transformation, and resilient urban development.
Several experts and investors are expected to outline new financing strategies for infrastructure development on the African continent, with a special focus on Angola as the host country.