USD 265 million financial agreement approved for Lauca

Luanda – A financing agreement valued at USD 265.8 million was approved in a presidential dispatch to cover the project of the energy transport system associated with the Lauca hydroelectric project.

The financial agreement will be signed between the Republic of Angola, represented by the Ministry of Finance and the Bank Standard Chatered, in accordance with the diploma to which Angop had access on Tuesday, published in the State Gazette, dated July 12.

This agreement is part of the Government’s strategy regarding the diversification of funding sources for the coverage of public investment projects.

The law already in force justifies the approval of this agreement, within the framework of the need to implement projects integrated into the public investment program, taking into account the investment policy for the economic and social development of the country.

Accordingly, the Minister of Finance is authorized to sign the said financing agreement and all related documentation.

The Lauca dam under construction since 2012 on the river Cuanza can produce 2070 megawatts of energy. The filling of the reservoir of the dam to supply enough water to generate energy began on 11 March this year.

Source: Angola Press News Agency

USD 265 million financial agreement approved for Lauca

Luanda – A financing agreement valued at USD 265.8 million was approved in a presidential dispatch to cover the project of the energy transport system associated with the Lauca hydroelectric project.

The financial agreement will be signed between the Republic of Angola, represented by the Ministry of Finance and the Bank Standard Chatered, in accordance with the diploma to which Angop had access on Tuesday, published in the State Gazette, dated July 12.

This agreement is part of the Government’s strategy regarding the diversification of funding sources for the coverage of public investment projects.

The law already in force justifies the approval of this agreement, within the framework of the need to implement projects integrated into the public investment program, taking into account the investment policy for the economic and social development of the country.

Accordingly, the Minister of Finance is authorized to sign the said financing agreement and all related documentation.

The Lauca dam under construction since 2012 on the river Cuanza can produce 2070 megawatts of energy. The filling of the reservoir of the dam to supply enough water to generate energy began on 11 March this year.

Source: Angola Press News Agency