Standard Chartered supports critical Angolan infrastructure with EUR415 million of financing
on 7 Dec 20236 December 2023, London, UK – Standard Chartered announces EUR415 million of UK Export Finance-backed financing for the Angolan Ministry of Public Works and Spatial Planning, West Africa.
Comprising 23 individual projects, the financing will improve potable water supply, storm drainage and flood management, sanitation, road infrastructure, public lighting, building renovations and commercial infrastructure, such as the construction of a port. This includes the municipalities of Benguela, Baía Farta, Catumbela and Lobito.
This financing is part of the Bank’s sustainability commitment to help protect communities from severe weather events and to make a positive impact in the places it calls home, as summarised by the Bank’s here for good brand promise.
Faruq Muhammad, Global Head of Structured Export Finance at Standard Chartered Bank, said: “We’re proud to be the Angolan government’s long-standing banking partner once more to bring about social, cultural and economic positive change for thousands of people in the Benguela Province, with improved infrastructure, water supply and building renovations.”
As the sole bank, Standard Chartered is lead Structuring and Coordinating Bank, Bookrunner and Mandated Lead Arranger for the financing.
You can read the full UK Export Finance co-announcement here.
This transaction is another in a long line of Standard Chartered financing for Angola. In June 2023, the Bank announced EUR 1.29 billion of financing for the Angolan Ministry of Finance to construct photovoltaic electricity distribution infrastructure1. In January this year, Standard Chartered also provided EUR 149 million Social Loan financing to build a new hospital in Kilamba2.
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For further information please contact:
Claire Newell
Head of Communications for UK and Europe
Standard Chartered Bank
Tel: +44 (0)207 885 8857
Email: Claire.newell@sc.com
Standard Chartered
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