Luanda, Angola – (African Boulevard News) – In a significant development for Angola’s infrastructure, British banking giant Standard Chartered Bank has announced its commitment to fund the final project in Angola before pulling out of the country. The bank will be contributing towards the construction of Luanda’s new water treatment plant, an initiative aimed at fulfilling one of the campaign promises made by President João Lourenço.
The project, known as Quilonga Grande, requires a substantial investment of €1.2 billion to ensure the successful completion of the water treatment plant. This plant is expected to play a crucial role in addressing the scarcity of clean water in Luanda, the capital city of Angola, and its surrounding areas. Upon completion, it is projected to have a significant positive impact on the lives of millions of residents.
Standard Chartered Bank’s decision to fund Quilonga Grande underscores its dedication to supporting Angola’s development initiatives. Despite its impending withdrawal from the country, the bank has chosen to invest in a project that will have long-lasting benefits for the local population. This move showcases the bank’s commitment to fulfilling its corporate social responsibility and leaving a positive legacy behind.
The funding from Standard Chartered Bank will provide a much-needed boost to the Quilonga Grande project, ensuring that it progresses smoothly and adheres to the set timelines. This assistance will help overcome financial challenges that the project may have faced otherwise, enabling the completion of critical infrastructure for the people of Luanda.
Industry experts have lauded Standard Chartered Bank’s decision, recognizing the bank’s support as a significant contribution to Angola’s development agenda. “The funding commitment by Standard Chartered Bank is a testament to their dedication to improving the lives of Angolan citizens. The water treatment plant will have far-reaching social and economic benefits, transforming the quality of life for the local population,” noted a spokesperson from a leading development agency.
President João Lourenço has also expressed his appreciation for Standard Chartered Bank’s involvement in the Quilonga Grande project. He views this partnership as a testament to Angola’s attractiveness for foreign investment and reaffirms the government’s commitment to creating an enabling environment for businesses.
As Angola continues to prioritize development and address its infrastructure needs, initiatives like Quilonga Grande and partnerships with international institutions are crucial. With the support from Standard Chartered Bank, Luanda’s new water treatment plant is on track to become a reality, ensuring a better and healthier future for the residents of the capital.
In conclusion, Standard Chartered Bank’s funding commitment to the Quilonga Grande project represents a significant step towards fulfilling Angola’s development goals. This partnership highlights the potential for collaboration between international institutions and the Angolan government in addressing crucial infrastructure needs. The water treatment plant’s completion will undoubtedly have a transformative impact on the lives of millions of people, providing them with easy access to safe and clean water.
