The US Export-Import Bank has approved a $1.6 billion direct loan to support vital renewable energy and drinking water projects in Angola.

The project aims to establish 65 small solar energy networks equipped with energy storage facilities that will operate water collection, treatment, and purification systems in four provinces in the south of the country.

This initiative is an important step toward enhancing access to clean energy and clean water in rural areas of Angola, which contributes to improving the public health and economic well-being of the local population.

Rita Jo Lewis, Chairwoman of the Board of Directors of the Export-Import Bank of the United States, expressed her pride in approving this project, stressing the bank’s commitment to supporting renewable energy projects in sub-Saharan Africa.

This initiative embodies the United States’ commitment to strengthening economic cooperation with Angola and supports the Global Infrastructure Partnership Initiative launched by President Biden, she said.

In June 2023, the US Export-Import Bank provided a direct loan of $900 million to finance the construction of two solar power plants in Angola with a total capacity of 500 MW, which was considered at the time the largest renewable energy project in sub-Saharan Africa.

The US Export-Import Bank loan represents a significant boost to Angola’s clean energy and water access efforts while strengthening economic cooperation between the two countries.