The African Export-import Bank (AfreximBank) has set aside some US$1.3B (€1B) to invest in projects in Angola, the Angolan Government confirmed on its official website, after AfreximBank’s President, Benedict Oramah, was received Angolan President, João Lourenço, at the Presidential Palace in Luanda.
According to the Government, the financing of US$1.3B is provided to implement different projects related to the energy and water sector, as well as credit portfolios to support national banks, values that may be made available during the course of this year.
Both parties discussed “specific and priority issues for the country, among them the water supply project to the city of Luanda, estimated at around US$ 900M [€742M], and the Lobito Railway Corridor project, budgeted at around US$3B [€2.4B] ”, according to information from the Angolan Government.
Also read: Angola approves new Public Procurement Law
The meeting also addressed issues related to a future rail link that may exist between Luanda and Cuito, as well as the Luanda and Benguela railways, and the construction and concession projects for the refinery and the port of Lobito.
“Another issue dealt with by the parties was the vaccine against covid-19, since Afreximbank was mandated by the African Union to buy 270 million doses”, of which Angola will receive a share, also indicated the information provided by the government.
The delegation accompanying Afreximbank’s President is composed of several businessmen, “some with a strong working connection in Angola, as is the case with Ahmed El Sewedy”, the president of Elsewedy, an Egyptian group with various interests in the country.