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Angola’s Finance Ministry approaches Chinese banks for water supply funding

Angola will approach Chinese banks to provide finance to expand the water supply network in Luanda province, Portugal’s news agency Lusa reports.

Seven new water projects worth more than 86.2 billion kwanzas (MOP 4.16 billion) will be launched for that expansion, the news agency says.

Angola’s Finance Ministry has a presidential order to identify a bank capable of helping fund the expansion by granting additional credit worth 15 percent of the project’s total value.

Angola plans to invest about US$29 billion (MOP 231.69 billion) in energy and water infrastructure by 2025.