Minister addresses macroeconomic situation with financial agency

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Minister addresses macroeconomic situation with financial agency
Minister addresses macroeconomic situation with financial agency

Africa-Press – Angola. The country’s macroeconomic situation and business environment dominated the meeting between the Minister of Transport, Ricardo Viegas D’Abreu, and the general director for structured financial operations at the Development Finance Agency (DFC), Nancy Rivera.

Tuesday’s meeting between the two officials served to analyze the possibility of the United States, through this development financial institution, participating in the necessary financing for the operationalization of the Lobito Corridor.

A press release from the Ministry of Transport, says that Nancy Rivera’s mission, together with her team and stakeholders (interested parties) directly related to the Lobito Corridor, is to make a due diligence (due diligence) to the Angolan legal and regulatory framework.

“This analysis by the DFC has, above all, to do with the interest and willingness shown by the United States to invest in the operationalization of the Lobito Corridor, a project that it considers structuring for the economies of the three countries that form it – Angola, the Democratic Republic of Congo and Zambia”, reads the document.

Ricardo Viegas D’Abreu, quoted by the document, revealed that during the meeting he made a point of highlighting “the importance and effects already achieved in the transport sector, with the reforms carried out, namely with the creation of adequate regulation and supervision bodies, which contribute to building confidence in the private sector and in financial institutions such as DFC.

He added that the reforms made it possible to “invest in the improvement of infrastructure, maintenance and security of national transport and logistics services, which, in turn, are articulated with neighboring countries, creating and diversifying the regional integration that we all yearn for ”.

According to the Minister of Transport, the delegation headed by Nancy Rivera made a point of highlighting “the quality and transparency of the process that led to the award of the Lobito Corridor’s operationalization to a private consortium, made up of three solid companies, with technical and proven financial.

According to the same, these two factors will certainly compete for the DFC to be able, with confidence and sustainability, to advance towards the concession of the financing that is being studied.

The delegation from the Financial Development Agency (DFC) continues, in the meantime, its work, meeting with the heads of the bodies responsible for regulating and supervising the transport sector, and visiting the province of Benguela, where it will have working meetings with the governor and the presidents of the Port of Lobito and of the Benguela Railways (CFB).

DFC is a US government-owned development finance agency that finances private sector-led projects in sectors whose impact on wealth creation in low-income countries is expected to be high in terms of wealth creation. economic and social being.

It should be remembered that the Angolan Government, through the Ministry of Transport, and the consortium formed by the companies Trafigura Group Pte Ltd, Vecturis, SA, and Mota-Engil, Engenharia e Construção África, SA, signed on 4 November last year the concession contract for the Lobito Corridor.

Over the next 30 years, this consortium will take over the operation, exploration and maintenance of rail freight transport, as well as the maintenance of all existing infrastructure along the Corridor.

The value of the signing premium for this concession is US$100 million, a value in line with the amount of other concessions in the transport sector in Angola, having made it possible to differentiate competitors, based on their financial capacity, in view of the size of the assets in question.

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