Japanese bank will provide 449 million euros for infrastructure.

The Mitsubishi UFJ Financial Group (MUFG) Bank will finance the construction of integrated infrastructure for five tourism development hubs in the country, in the amount of €449 million. These include the Tourism Development Hubs of Cabo Ledo, in the province of Ícolo e Bengo, Baía do Quicombo, in the province of Cuanza Sul, and Baías das Pipas, 3 Irmãos and Tômbwa, in the province of Namibe.

The decision, authorized by the President of the Republic, is implemented through presidential decrees that formalize the simplified contracting process, and determines that €200 million be allocated for the construction of integrated infrastructure for the Tourism Development Projects of Baía do Quicombo, Baía das Pipas, Baía dos 3 Irmãos and Baía do Tômbwa. The construction of integrated infrastructure for the Cabo Ledo Tourism Development Project will require €249 million.

The financing, secured through an external credit line provided by MUFG, is not intended for the construction of hotels or resorts, but rather for the creation of the basic conditions that enable the entry of major tourism developers, hotel operators and real estate promoters, both national and international. According to a statement from the Ministry of Tourism, "the Executive’s decision to channel resources into infrastructure investment in these areas represents a fundamental measure for creating concrete opportunities for major tourism project developers, real estate promoters and national and foreign investors, with a direct impact on job creation, boosting the local economy and improving the living conditions of surrounding communities.".

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"This integrated model of public investment, aimed at facilitating the entry of private investment, significantly reduces entry costs for investors, increases the destination’s competitiveness and promotes sustainable tourism development," the document states.

In the case of Cabo Ledo, the project foresees the implementation of approximately 50 kilometers of road infrastructure, complete drainage systems, potable water supply, public lighting, urban landscaping and tourist signage, creating the physical backbone of one of the most ambitious planned tourism destinations in the country. The Executive expects this public investment to function as a multiplier effect, with a direct impact on job creation, stimulation of local economies, increased tax revenues and reduction of structural dependence on oil.

This financing is part of the tourism development plan, which aims to attract more visitors to the country and increase the sector’s contribution to GDP, which currently stands at 1.4%, according to authorities.

Source: https://expansao.co.ao//economia/detalhe/banco-japones-vai-disponibilizar-449-milhoes-de-euros-para-infraestruturas-69768.html

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