Scott Nathan, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), engaged in discussions with President João Lourenço of Angola to explore avenues for advancing strategic infrastructure projects.
This meeting, following President Lourenço’s recent discussions with President Biden, focused on reinforcing DFC’s commitment to fostering a robust pipeline of vital infrastructure initiatives in Angola.
CEO Nathan, building on previous interactions with President Lourenço, explored opportunities for mobilizing private capital to support Angola’s developmental objectives.
The discussions encompassed potential investments in crucial sectors, including rail, digital networks, electricity transmission, and water systems. The aim is to facilitate economic growth and development in Angola.
During the meeting, CEO Nathan provided an update on DFC’s involvement in President Biden’s Partnership for Global Infrastructure and Investment.
Notably, the DFC is currently in the due diligence phase for a prospective $250 million financing package for the Lobito Atlantic Railway Corridor.
This proposed open-access rail line from Lobito Port in Angola to the Democratic Republic of the Congo (DRC) border seeks to enhance trade, economic activity, and investment opportunities in agriculture, digital infrastructure, and expanded electricity access.
The dialogue also delved into potential DFC support for strengthening the water sector in southern Angola, showcasing a multi-faceted approach to addressing the country’s developmental needs.
The relationship between CEO Nathan and President Lourenço has been ongoing, with Nathan leading the U.S. delegation to President Lourenço’s inauguration in September 2022.
Their discussions have extended to various international forums, including the U.S.-Africa Leaders Summit in Washington, D.C., in 2022, and meetings at the U.N. General Assembly earlier this year.
