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Government Secures USD 64 Million for Construction of 43 Dams in Namibe

Government Secures USD 64 Million for Construction of 43 Dams in Namibe

The Angolan government has successfully raised USD 64 million through the issuance of Public Debt Securities to finance the construction and rehabilitation of 43 dams in the province of Namibe, according to a statement from the Ministry of Finance.

In the note, the ministry describes this outcome as a reflection of the successful achievement of financial objectives, reaffirming the Angolan State’s commitment to the Sustainable Development Goals (SDGs) and highlighting the growing maturity of the national capital market.

The Ministry of Finance expressed gratitude for the trust shown by investors in the Executive’s agenda and extended best wishes to the Ministry of Energy and Water and the Provincial Government of Namibe for the implementation of this important initiative for the country’s sustainable development.

The bond issuance, amounting to up to USD 64 million, took place between May 26 and June 4, 2025, under the “Green and Social Bonds” operation. The goal is to fund the construction and rehabilitation of 43 dams in Namibe — part of the Finance Ministry’s strategy to develop the public bond market.

The operation followed a bookbuilding format, with original maturities of 5 and 8 years, and maturity dates set for February 15, 2029, and September 15, 2031, respectively. The bonds carry interest rates capped at 5% and 7%, with semi-annual coupon payments.

This initiative is also part of a broader strategy to raise funds for sustainable projects, focusing on developing water infrastructure, with direct impacts on access to drinking water, agriculture, and other economic activities.

Other strategic goals include promoting sustainable agriculture, boosting food production, and combating food insecurity, thereby contributing to economic and social development in Namibe, creating jobs, stimulating the local economy, and ensuring environmental sustainability by mitigating the effects of drought and desertification in the semi-arid region.

Source: Angop

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