Africa-Press – Angola. Portuguese bank Caixa Geral de Depósitos (CGD) will finance more than USD 900 million for the implementation of five projects linked to road and electricity infrastructure.
The funding is part of the agreements recently signed between Angola and Portugal, in Luanda, within the scope of the visit of the Portuguese Prime Minister, António Costa.
Of the five projects to be financed, four are linked to the recovery of roads in the provinces of Cabinda, Moxico and Zaire, for a value close to USD 850 million.
These are works projects for the rehabilitation of national road 250, on the Lumeje-Cameia-Lucano section (Moxico), on the Cacongo –Miconje axis (Cabinda) and the completion and repair of the Nzeto-Soyo motorway (Zaire).
According to the administrator of Banco Baixa Geral Angola (BCGA), Francisco Oliveira, from the Caixa Geral de Depósitos Group (CGD), the remaining amount will be used for infrastructure connected to electricity without advancing the beneficiary location.
Speaking this Friday, on the sidelines of the signing of the Agreement between the BCGA and the Credit Guarantee Fund (FGC), Francisco Oliveira assured that the five projects had already been approved, of which three had been formalised.
“These five projects have already been approved, of which three are already formalized and two will be formalized very soon”, said Francisco Oliveira.
The two missing ones, he added, are connected to the electricity infrastructure and the other to the road.
The electrification project is related to a distribution center, which will transform high voltage energy into medium and low voltage for domestic consumption.
National and Portuguese companies will be involved in the undertaking of the five projects.
Among the contractors, Mota-Engil, Engevia and the company Enerline stand out.
The financing contracts for the referred works were initialed on the 5th of June of this year, between the Minister of Finance of Angola, Vera Daves, the chairman of the Executive Committee of Banco Caixa Geral de Depósitos, Paulo José Semedo, and the Portuguese attorney , João Manuel de Castro Placido Pires.
The signatures of the legal documents, in a total of 13, were witnessed by the President of the Republic of Angola, João Lourenço, and by the Prime Minister of Portugal, António Costa, who visited the country for the second time, after 2018.
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