Abu Dhabi Exports Office, Angola ink green finance deals worth Dhs445m

Abu Dhabi Exports Office, Angola ink green finance deals worth Dhs445m

Abu Dhabi Exports Office has closed two green finance agreements with Angola, valued at Dhs445m ($121.3m). The financing is being provided in cooperation with Standard Chartered Bank. One deal, valued at Dhs330m ($90m), concerns the acquisition of an analytical platform, main data centre, backup data centre, and national cloud platform to bolster the IT sector in Angola, according to the state news agency, . The project will be carried out by Presight, a G42 company, which specialises in big data analysis powered by artificial intelligence and cloud computing. The other agreement, valued at Dhs115m ($31.3m), will see Mark Cables, a UAE company specialising in manufacturing cables, lighting, water, and electrification projects, install and maintain streetlights in Luanda, Malanje, N’dalatando and Uíge. Mohamed Saif Al Suwaidi, director general of Abu Dhabi Fund for Development and chairman of the Exports Executive Committee of Abu Dhabi Exports Office, said: “The two agreements constitute an important starting point for a new phase of developmental cooperation with the government of Angola. They contribute to building efficient partnerships to support the development of modern, environment-friendly infrastructure in Angola in cooperation with well-established UAE companies, as well as companies based in Angola. These activities will also contribute