Standard Chartered announces EUR22 million loan for clean water project in Angola

15 August, London, UK – Standard Chartered announces EUR22 million loan in collaboration with UK Export Finance (UKEF), supporting a rural water supply project in the Quiminha region of Angola, southwestern Africa.

Nearly half the population lacks access to clean drinking water in Angola,¹ with sustainable access to improved water and sanitation facilities remaining a challenge in rural areas.

Delivered by Elecnor Servicios y Proyectos, S.A.U on behalf of Angola’s Ministry of Public Works, the Quiminha water project will rehabilitate the Quiminha Dam and deliver new infrastructure for the storage and distribution of water. This will provide access to clean water for around 100,000 people in rural communities like Vila Catete, Vila Quiminha, Vila Lalama, Calumbunze and Camizunzo.

The project is expected to improve living conditions and support economic development in the Quiminha region, an important agricultural area, by providing a reliable source of potable water that can also meet industrial and agricultural needs. Agribusiness has been identified by the World Bank as a priority sector for economic diversification in Angola.

Standard Chartered was mandated by the Ministry of Finance, Angola, as the sole Coordinator and Structuring Bank, Social Loan Coordinator and Mandated Lead Arranger. The financing package has been developed with support from UK Export Finance, the UK’s export credit agency, and their role has secured new opportunities for UK exporters, which are expected to deliver around EUR8 million in UK subcontracts.

Mustafa Sajjad Hussain, Executive Director, Structured Export Finance, Standard Chartered, said: “This financing in Angola aligns with the Bank’s commitment to drive capital into areas that require sustainable infrastructure across our markets, allowing us to make a positive difference across our geographies and communities.”

UK Minister for Africa, Lord Collins of Highbury, said: “This ground-breaking deal will provide vital water management that will transform lives. Our partnership with Angola is strong, and this funding will provide huge benefits, including new water supplies and protection from the harsh impacts of climate related events including drought. By teaming up to tackle climate change now, we are creating a resilient and sustainable future – it is clear that we can go far when we work together.”

Natalia González-Ubeda, Head of Export Finance, Elecnor Servicios y Proyectos, S.A.U, said: “We are extremely proud to continue contributing after 30 years to the development and clean growth of Angola in both the water and energy sectors. Thanks to our partners from UKEF and Standard Chartered for their support in our third transaction with UKEF in Angola, by investing in drinking water projects, we are not only ensuring access to clean water to the region but also underscoring our dedication to fostering economic growth and enhancing the quality of life in Angola.”

This transaction follows Standard Chartered’s recent announcement of EUR415 million of financing to support critical Angolan infrastructure.²

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For further information please contact:

Denada Muka
Communications, Brand and Marketing Manager, Europe
Standard Chartered Bank
Tel: +44 7884476951
Email: Denada.Muka@sc.com

Standard Chartered
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¹ Water, Hygiene and Sanitation | Angola | World Vision International (wvi.org)

² Standard Chartered supports critical Angolan infrastructure with EUR415 million of financing | United Kingdo m