ADB: Lends $124,4 Million to Angola.
The African Development Bank Group (BAD) and Angola, sign two loan agreements worth US$124,4 million to finance the Coastal Cities Inclusive Sanitation Project. This project is part of the Angolan government's efforts to improve the provision of water and sanitation services in the country.
The agreements – for a $75 million loan from ADB and $49,4 million from the Africa Growing Together Fund (AGTF), will benefit Benguela, Baía Farta, Catumbela and Lobito, in western Angola. The Africa Growing Together Fund is a $2 billion facility sponsored by the People's Bank of China and administered by the African Development Bank.
The deal
Angola's Minister of Finance, Vera Daves de Sousa, and the Director General of the African Development Bank for Angola, Pietro Toigo, signed the agreements in Luanda, Angola.
The Coastal Cities Inclusive Sanitation Project is part of the Angolan government's efforts to improve the provision of water and sanitation services in the country, in line with its Vision 2050, which promotes infrastructure and provision of water and sanitation services sustainable and climate resistant.
The project area, where the cities are located, is an important economic and logistical center in Angola, and the project is expected to improve the health and socioeconomic situation of local populations. Access to sanitation services is crucial to meeting the health needs of Angola's growing population, growing urbanization and socioeconomic development.
Vera de Sousa, who is governor of the African Development Bank on behalf of Angola, expressed her government's appreciation to the African Development Bank for its development efforts in Angola in various sectors.
“We are embarking on a transformative journey and this historic agreement solidifies our commitment to improving sanitation services and improving the living environment, which will have a significant impact on the well-being of our citizens,” he said.
In addition to addressing critical sanitation issues, the project will include the construction of sewage reticulations, wastewater and fecal sludge treatment plants, improving sanitation value chains and strengthening capacity. These initiatives align perfectly with the Government's vision of a healthier and more sustainable future and the Sustainable Development Goals.
Pietro Toigo stated that:
“The Government of Angola has taken an important step forward to promote clean and hygienic living conditions for the communities of the four coastal cities”.
“We are delighted to launch an innovative integrated project that combines elements of infrastructure investment, support for private sector operators, community-led sanitation and governance to improve the sustainability of public services.”
He noted that the project would provide valuable lessons and experiences, drive change in the sector and expand similar initiatives across the country.
THE BAD
The African Development Bank Group is the leading development finance institution in Africa. It includes three separate entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).
Present on the ground in 41 African countries, with an external representation in Japan, the Bank contributes to the economic development and social progress of its 54 Member States.
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Picture: © 2023 AFDB
