Baroness Fairhead, Minister of State for Trade and Export Promotion, has announced €450 million in UK Export Finance (UKEF) support for UK firms to build three new hospitals and upgrade two power stations, improving healthcare and power provision in Angola. This is the first time UKEF has supported a British project in Angola, signalling a significant inroad into Africa for ‘Global Britain’.
€380 million will support a contract between the UK branch of international firm ASGC and Angola’s Ministry of Health to build three new hospitals, including the Mother and Child Hospital and Pediatric Haematology Institute in Luanda, and the Cabinda General Hospital.
Once complete, the Mother and Child Hospital will have over 300 beds available, and the Cabinda General Hospital over 200, providing much-needed healthcare services to major population centres in Angola. The haematology unit will provide a range of specialist services including radiology, intensive care and a paediatric ward.
The project will also open up further projects for UK construction companies. Paisley-based IQA Group will upgrade two power substations in Viana and Gabela over the course of two years, significantly reducing North West Angola’s dependence on oil-generated power. UKEF will provide a guarantee to support a €70 million loan issued to the Angolan Ministry of Finance for the project.
Great example of the Export Strategy coming to fruition
Baroness Fairhead, Minister of State for Trade and Export Promotion, said:
“I’m delighted that the UK Government, through UK Export Finance, is supporting these two projects. It enables a Scottish exporter to enter a global marketplace and deliver reliable power to millions of people in Angola. It also showcases how British expertise can assist the development of vital healthcare services.”
“This is a great example of how our ambition to grow exports, as set out in the Export Strategy, is helping British businesses break into overseas markets through support such as that provided through UKEF, our award-winning export credit agency, our teams led by HM Trade Commissioners in market and our GREAT.gov.uk website.”