Luanda, July 25, 2025 (Lusa) - The African Finance Corporation (AFC) announced on Friday the disbursement of €85 million to Angola, to finance nearly 200 bridges and improvements to the country's road network, as part of more than €380 million earmarked for road infrastructure.
“The AFC has concluded and disbursed €75 million of an €85 million sovereign credit line to the Government of Angola, through the Ministry of Finance, to support the construction of 186 priority bridges and critical improvements to the national road network,” the entity announced in a statement sent to Lusa.
The project, the statement added, "is part of Angola's National Development Plan (2023-2027) and aims to reduce transport costs, facilitate market access for agricultural producers and create approximately 900 direct jobs, while strengthening the resilience, efficiency and inclusiveness of Angola's transport system".
The disbursement is part of the €381.5 million financing package already announced, which includes international institutions and has Portuguese construction company Conduril as the main contractor for the road works and US company Acrow as the bridge supplier.
“We are proud to move forward with this catalytic investment that will connect underserved regions, strengthen regional trade and improve the quality of life for millions of Angolans,” said AFC President , Samaila Zubairu, quoted in the statement, which highlights "AFC's unique ability to structure and finance impactful infrastructure projects that address critical national priorities and accelerate economic transformation".
Angola, which became a sovereign shareholder of AFC in June, is the second Portuguese-speaking country, after Cabo Verde, to hold a stake in this entity aimed at financing infrastructure investments on the continent.
Earlier this year, the Angola Sovereign Fund also made a capital investment of US$25 million in AFC, reflecting “a cohesive national strategy to promote Angola’s industrial and infrastructure development agenda through close collaboration with AFC”, it announced last month.
AFC and Angola have a strong history of collaboration over the years, exemplified by initiatives such as the Lobito Corridor project, in which AFC acts as the main promoter, alongside other partners.
“This transformative multinational transport network linking Angola, Zambia and the Democratic Republic of Congo has the potential to open up new industrial and value chain opportunities in key sectors, including mining, agriculture, energy and tourism,” the financial institution said at the time.
AFC was established in 2007 to promote investment in infrastructure and industry on the African continent, bringing together sector expertise with a focus on financial and technical advice, project structuring, project development and venture capital to address infrastructure development needs and drive sustainable economic growth in Africa.
AFC has 45 member countries and has invested more than US$15 billion (€12.9 billion) in 36 African countries since its creation.
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