Angola: Partnership for Global Infrastructure and Investment (Pgi) Celebrates Signing of Finance Agreements for Republic of Angola Projects

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Africa Nouvelles

Press Release - Today, on the margins of the Corporate Council on Africa's U.S.-Africa Business Summit, the United States and the Republic of Angola celebrated the signing of final agreements to finance three major infrastructure projects in the Partnership for Global Infrastructure and Investment (PGI)'s flagship Lobito Corridor.

Today, on the margins of the Corporate Council on Africa's U.S.-Africa Business Summit, the United States and the Republic of Angola celebrated the signing of final agreements to finance three major infrastructure projects in the Partnership for Global Infrastructure and Investment 's flagship Lobito Corridor. The agreements, for projects totaling more than $1.3 billion for clean power, radio connectivity, and transportation infrastructure, demonstrate the U.S.

In October 2023, the U.S. Government signed a seven-side MOU with the governments of Angola, the Democratic Republic of Congo, Zambia, and the European Commission, alongside the African Development Bank and the Africa Finance Corporation , to develop the Lobito Corridor, including key rail infrastructure investments in all three African countries.

The $450 million Acrow Bridge project, investing in modern transportation infrastructure through the engineering, procurement, and construction of 186 bridges throughout Angola, involves financing and support from EXIM, the Private Export Funding Corporation, and Standard Chartered Bank.

 

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