Angola has secured a financial portfolio of over USD 3 billion from the World Bank (WB), funds intended to finance infrastructure projects in the electricity and water sectors, according to the Minister of Energy and Water, João Baptista Borges.
Speaking to the press on the sidelines of the 3rd Summit on Infrastructure Development in Africa, which began on Tuesday in the Angolan capital (Luanda), the minister described the WB as the largest multilateral infrastructure financier in the country.
In the water supply sector, he highlighted financing for the Bita project, exceeding USD 1 billion, and the PDISA II project, valued at USD 500 million, in partnership with the French Development Agency.
Regarding energy, he pointed out funding for the interconnection of Huíla and Cunene provinces, valued at USD 700 million, as well as the upcoming connection to Namibia’s electricity grid.
Alongside the WB, Angola also benefits from financing from the African Development Bank (AfDB) for key projects, currently funding the interconnection between Huambo and Huíla, with an investment of approximately USD 400 million, while in the water sector, the AfDB is financing projects estimated at USD 300 million.
João Baptista Borges added that Angola has also begun working with the African Finance Corporation on energy production projects and other economically viable initiatives that attract private sector interest.
Regarding the Bainess project, he said it is a transnational initiative expected to produce around 800 megawatts, split 50% for each country, with financing anticipated in 2026.
On the Summit’s objectives, the minister noted that African countries, particularly Angola, are committed to regional energy interconnections, as some countries currently have surpluses in electricity production while others face shortages, such as Zambia, Namibia, and the Democratic Republic of Congo (DRC).
The Summit was opened by the Chairperson of the African Union and President of Angola, João Lourenço, who emphasized the need for Africa to mobilize approximately USD 170 billion to develop key infrastructure projects, including roads, railways, ports, and airports, to facilitate market integration.
Under the theme “Capital, Corridors, Trade: Investing in Infrastructure for the AfCFTA and Shared Prosperity”, the Summit is under the high patronage of the President of Angola and the African Union, João Lourenço.
The event brings together over 2,000 delegates, including investors, representatives from international financial institutions, experts, and policymakers.
Over four days, participants will discuss promoting Public-Private Partnerships (PPPs), encouraging sustainable investment, and accelerating the Programme for Infrastructure Development in Africa (PIDA), which prioritizes regional connectivity, digital transformation, and resilient urban development.
Various experts and investors will also outline new financing strategies for infrastructure development in Africa, with a special focus on Angola as the host country.
Source: Angop
