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HomeWorldStandard Chartered arranges $1.1 bln financing for Angola water project

Standard Chartered arranges $1.1 bln financing for Angola water project

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Standard Chartered Bank on Monday said that it had arranged $1.1 billion of financing to the Angolan government for a water supply project that will serve its capital Luanda.

The funding is made up of two loans – a $910 million facility supported by a partial World Bank guarantee, and $165 million backed by France’s export credit agency.

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The project aims to improve access to drinking water for the capital’s over two million residents.

The financing will be used for investments in water production, transmission and distribution facilities, including a water treatment plant, storage facilities and new networks, Standard Chartered said in a statement.

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