Angola has signed a financing agreement with the World Bank totaling $350 million to implement the Huíla–Cunene Interconnection Project.
The deal combines a $334 million loan from the International Bank for Reconstruction and Development (IBRD) with a $16 million grant from the Livable Planet Fund.
The agreement was authorized by the Angolan government, which delegated authority to the Minister of Finance to negotiate and sign all documentation on behalf of the Republic of Angola. The financing is contracted with the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group.
The $16 million grant from the Livable Planet Fund indicates an environmental sustainability component associated with the project—signaling alignment with the increasingly stringent climate financing criteria required by multilateral institutions.
The Huíla–Cunene Interconnection Project aims to expand the national electricity grid to two of Angola’s southern provinces, a region historically marked by a lack of energy infrastructure and vulnerable to the effects of drought. Connecting these provinces to the national grid represents a significant step toward improving energy access, supporting agricultural development, and encouraging population settlement in the country’s interior.
The operation is part of Angola’s broader strategy of economic diplomacy and diversification of external financing, at a time when the country is seeking to reduce its dependence on oil and accelerate development in inland regions.
Agreement signed between the Republic of Angola, represented by the Ministry of Finance, and the World Bank Group.
Source: Líder Magazine
