USD 1 billion loan for the construction of a water intake station in Angola

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USD 1 billion loan for the construction of a water intake station in Angola

The Ministry of Finance of the Republic of Angola consulted with Norton Rose Fulbright on financing …

The Ministry of Finance of the Republic of Angola has received advice from Norton Rose Fulbright on the financing of one of the largest drinking water plants on the African continent.

Funding of US $ 1 billion was secured for the development of the Bita water plant in South Luanda, which is expected to contribute to the modernization of the water sector as well as the broader development of Greater Luanda.

The project is being implemented by the Luanda-based Empresa Publica de Aguas de Luanda (EPAL) water utility on behalf of the Ministry of Energy and Water Resources of the Republic of Angola.

The loan was structured with two loans: a US $ 900 million loan with Standard Chartered Bank, BNP Paribas, Corporate and investment bank Crédit Agricole, Société Générale as well as Credit suisse acting as leading arrangers. This first loan was partially guaranteed by both International Bank for Reconstruction and Development and African Trade Insurance Agency

The second loan is a smaller amount – about USD 170 million. The loan was provided by Standard Chartered Bank and will be used to finance design and construction contracts with the assistance of a French bank. BpiFrance Assurance Export

The project will help improve access to cost-effective water, health and education services by supporting investment in critical infrastructure in South Luanda, and improving hygiene and access to safe water supplies in more disadvantaged areas.

This “will support human capital development through improved health outcomes,” Norton Rose said in a press release, adding, “The project will also make Luanda’s water system more resilient to climate shocks.”

Norton Rose Fulbright partner in London and head of the advisory team Madhavi Gosavi the project said in a statement that the project is “critical to the country,” adding that “as a result of their commitment to this project, two million Angolans will have access to drinking water. This is a generational change for the people of Luanda. “

Among the lawyers supporting Gosavi was a senior lawyer. Jessica Melville and two employees, Temi Adetugbo as well as Salvador Mazza

African trade finance got a raise of $ 100 million after a transaction between a UK financial institution CDC Group and Standard Chartered.


USD 1 billion loan for the construction of a water intake station in Angola



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