The United States and Angola have finalized funding agreements for three infrastructure projects worth $1.3 billion.
These initiatives are integral to the transnational Lobito Corridor development and are backed by the Partnership for Global Infrastructure and Investment (PGI), a collective commitment by G7 nations to promote private investment in global infrastructure endeavors.
Among the trio of projects are two solar power plants boasting a combined capacity of 500 MW. Spearheaded by renewable energy firm Sun Africa, these plants will be integrated into Angola’s national grid, providing electricity to over three million Angolans.
The Export-Import Bank of the US (EXIM) has allocated $872 million in financing for these solar endeavors.
The second initiative, the $450 million Acrow Bridge project, encompasses the construction of 186 bridges nationwide.
Financial backing for this endeavor comes from EXIM, the Private Export Funding Corporation, and Standard Chartered Bank.
Lastly, the Angola FM Radio Signal Expansion and Studio Modernization Project, valued at $40 million, aims to extend analog FM radio coverage to 95% of Angola’s population.
Supported by US-based GatesAir Technology, this project entails the deployment of 168 Flexiva FM transmitters, along with antenna installation, tower erection, auxiliary RF system enhancements, and studio upgrades across the country.
These three projects mark the largest US-backed financing package under the PGI initiative, underscoring a significant stride in bilateral infrastructure collaboration between the United States and Angola.
