AfreximBank To Invest $1.3 billion in Angolan Water and Energy

The Angolan Government and African Export-Import Bank (AfreximBank) have announced that approximately $1.3 billion in financing will be made available to projects in energy and water sectors, as well as be used as credit portfolios to support national banks.

The announcement follows a meeting between Angolan President H.E. João Lourenço and President of AfreximBank, Benedict Oramah, in which the two parties discussed priority investment projects in the country.

Projects include the supply of water to Luanda – estimated at around $900 million – and the Lobito Railway Corridor project, budgeted at around three billion dollars.  

The meeting also addressed plans to construct a future rail link between Luanda and Cuito; the existing railways in Luanda and Benguela; and construction and concession projects for the refinery and the port of Lobito.

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