AFC leads commercial funding for million dollar project

Africa's leading infrastructure solutions provider, Africa Finance Corporation (AFC), is leading the commercial funding for a US$413mn package to finance the engineering, procurement and construction of 186 bridges and crucially needed enhancements to Angola’s road network

Initiated by the Ministry of Public Works, Urban Planning and Housing in Angola, the project aims to improve accessibility in remote areas and supports industrial and commercial activity, advancing prosperity by reducing transport costs and travel times, and easing poverty through job creation. The signing took place at the US-Africa Business Summit in Dallas, Texas, organised by the Corporate Council on Africa.

Improving road connectivity is particularly beneficial to the agricultural sector in producing and marketing much needed cereals for human food and animal feed and livestock, thereby providing a resolute response to increased food imports and fostering localisation of food chains.

“AFC is proud to work with the government and other partners on this landmark project which is set to transform the country’s road transportation infrastructure as Angola makes strides to diversify its economy away from oil,” said AFC board member and head of Financial Services, Sanjeev Gupta. “This project not only supports the country’s drive to make agriculture a foundation for economic growth, but it also prioritises the development of climate resilient infrastructure which contributes significantly to Angola’s climate adaptation plan.”

For more information, visit: https://www.africafc.org/