Luanda - The US Export-Import Bank (EXIM) Thursday approved a historic loan of 1.6 billion dollars to support the construction of 65 solar energy mini-grids in four provinces in southern Angola, ANGOP learnt on Friday.
The project also includes energy storage facilities that will power water collection, treatment and purification systems to increase access to electricity and drinking water in several provinces of Angola, as well as improving health, education and social welfare.
According to the statement, the transaction, which involves the companies ING Capital, Sun Africa and Omatapalo, is expected to support 3,100 jobs in the US.
Quoted in the statement, Reta Jo Lewis, president of EXIM Bank, said he was proud to approve the project, which will promote access to clean energy and drinking water in key regions of Angola.
The EXIM Bank official said the institution is firmly committed to defend renewable energy projects, support US exporters doing business in sub-Saharan Africa and deepen the economic relationship with Angola, as well as promoting President Joe Biden's Partnership for Global Infrastructure (PGI) initiative.
Reta Jo Lewis explained that the approved transaction is built on EXIM Bank's recent historic work in Angola and moves forward the Biden-Harris Administration's PGI initiative, under a collaborative effort of the US government agencies to support sustainable, clean, resilient and inclusive infrastructure projects around the world.
The Export-Import Bank of the United States is the country's official export credit agency, with a mission to support American jobs by facilitating U.S. exports.
EXIM promotes American competitiveness and assists US companies as they compete for global sales, offers financing, including export credit insurance, working capital guarantees, loan guarantees and direct loans. EH/QCB/AMP
