The European Investment Bank has invested €20m ($22.69m) in TV Cabo Angola to provide high-speed internet access for business, private customers and public administration customers in cities across Angola.

Pim van Ballekom, European Investment Bank Vice President, said: “Access to high-speed internet access is essential for economic activity around the world. The European Investment Bank is pleased to continue our engagement to improve communications infrastructure across Africa through this new engagement with TV Cabo Angola.”

“Once operational, expanded and improved broadband networks in key Angolan cities will enable TV Cabo Angola to provide better services to customers. The new connections will not only enhance links between Angola and the rest of the world, but also provide new opportunities for business and private users as well as improving public sector services,” he said.

In 2006, the European Investment Bank supported the successful implementation of TV Cabo’s first network which was the first large investment project supported by the EIB in the country, in which the Bank has been engaged since 1992.

The European Investment Bank's second loan will support expansion of broadband networks in Luanda, Benguela and Lobito, and provision of new optical fibre communication networks in Lubango, Huambo, Cabinda and Soyo.

Once fully operational the new customer connections will improve access to advanced telecommunications and internet services and enable improved connections for schools, hospitals, NGO’s, government departments and other users.

Naiole C. dos Santos Guedes, Chairperson of TV Cabo, said: “This second EIB loan to TV Cabo shows the confidence of the European Investment Bank in TV Cabo Angola Project as well as on its sponsors, Angola Telecom and Visabeira Global. The success of the project in both fostering the information society and creating qualified jobs has allowed TV Cabo to be widely recognized across Angola for supporting local development.”

Over the last five years the European Investment Bank has provided more than €13.7bn ($15.55m) for investment to improve telecommunications access across Europe and around the world.

This has included support for submarine cables connecting Africa to the rest of the world, investment to improve internet access in rural areas and cooperation with leading telecom companies such as Vodaphone, Orange, T-Mobile, TIM, EE, Iliad and Movistar.

Last year the EIB provided more than €2.5bn ($2.84bn) for investment in public and private projects across Africa.