Washington — The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, is helping Angola address its severe energy deficit through its support for the expansion of the Cambambe hydroelectric power plant. MIGA is providing non-honoring of sovereign financial obligations cover of $512 million to the project's lenders for a period of 13 years.
HSBC Bank plc, Société Générale, and BHF-Bank Aktiengesellschaft have arranged €300 million in debt financing to the government of Angola for the Cambambe plant, one of two hydroelectric power stations operating on the Kwanza River.
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