Hong Kong´s Standard Chartered Bank will participate in the financing of a USD 910 million water supply project in Angola.
The financing will be in charge of Standard Chartered Bank (Hong-Kong) Limited, as leader and agent, and BNB Paribas – Credit Agricole Corporate and Investment Bank, among other financial institutions.
The Bita Water Supply Project, to be implemented in the municipality of Belas, in Luanda (pictured above), is expected to benefit more than one million people.
The Angolan president, João Lourenço, signed last week the agreement between Angola and a consortium of banks to finance the Bita water supply project in Luanda, according to the local press.
This financing is covered by a guarantee of the International Bank for Reconstruction and Development (IBRD) for a global amount of 500 million dollars.
The Presidential order authorizes the finance minister to sign the agreements on behalf of Angola.