Notice

Category A project supported: New International Airport in Cabinda, Angola

Published 7 August 2025

1. PROJECT DESCRIPTION

UK Export Finance has agreed to provide support to the Ministry of Finance, Angola in respect of the construction and operation of a New International Airport in Cabinda, Angola.

A key aim of the Project is to provide modern airport infrastructure that can cater for the projected growth in air traffic in the Cabinda region, and which is not possible at the existing Cabinda airport site.

The Project includes: - Construction and Operation of a New International Airport to the north of Cabinda city, Angola. - Includes two Associated Facilities: an overhead power line of approximately 3 km between Futila/Malebo power plant to the Project site, and the closure of the existing Cabinda Airport.

The review was carried out in collaboration with Standard Chartered Bank.

2. PROJECT SECTOR

The Project is in the civil construction sector.

3. PROJECT SPONSORS

The Project is being developed by Innovo Project Limited (Innovo).

4. UK EXPORTERS

Approximately 90 UK suppliers as sub-contractors to Innovo Projects Limited.

5. EXPORT CREDIT AGENT BANK

Standard Chartered Bank

6. AMOUNT OF UK EXPORT FINANCE SUPPORT

The maximum liability of the support is GBP 371,347,593.06.

7. OECD COMMON APPROACHES and Equator Principles

UK Export Finance categorised the Project as Category A i.e. having potentially significant environmental, social and human rights (ESHR) impacts in accordance with the definition in the Organisation for Economic Co-Operation and Development (OECD) Recommendation of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (“Common Approaches”), OECD/LEGAL/0393 and the Equator Principles (2020).

As required by the OECD Common Approaches, UK Export Finance disclosed its possible involvement in the Project. A notification was posted on the UK Export Finance web site on 20th June 2024, which directed interested parties to the contact from where published ESHR information can be sourced. UK Export Finance did not receive any comments from interested parties.

Environmental Resources Management Southern Africa (Pty) Ltd (ERM) was commissioned by Innovo to undertake an independent environmental and social due diligence review on behalf of the Lender group/ECAs.

8. ENVIRONMENTAL, SOCIAL AND HUMAN RIGHTS STANDARDS

Project related ESHR documentation was reviewed for their alignment against the 2012 International Finance Corporation (IFC) Performance Standards(PS) on Environmental and Social Sustainability and the World Bank Group Environmental, Health and Safety (EHS) Guidelines.

The applicable IFC PS were: - PS1: Assessment and Management of Environmental and Social Risks and Impacts; - PS2: Labour and Working Conditions; - PS3: Resource Efficiency and Pollution Prevention; - PS4: Community Health, Safety and Security; - PS6: Biodiversity Conservation and Sustainable Management of Living Natural Resources; - PS8: Cultural Heritage;

The applicable World Bank Group EHS Guidelines were: - General EHS Guidelines (2007); - EHS Guidelines for Airport, (2007); and - Guidelines for Electric Power Transmission and Distribution (2007).

9. NATURE OF ESHR IMPACTS

The review of potential ESHR risks and impacts took into account the following impacts, receptors and issues during the construction and operational phases of the Project: - health and safety; - emissions to the atmosphere (including land, air and water); - noise; - wastewater treatment; - waste and hazardous material management; - emergency planning and response; - construction camp conditions; - grievance mechanisms; - worker rights; - community engagement; - biodiversity - human rights risks in Supply Chain; - physical climate risks;

10. ASSESSMENT OF ESHR IMPACTS

A review was undertaken in line with the requirements of the OECD Common Approaches and Equator Principles to identify potential ESHR risks and impacts of the Project and how these would be effectively managed.

ERM, acting as the Independent Environmental and Social Consultant (IESC) and provided support in undertaking the review.

The review included: - A site visit; 4 - Desk-based review of project-related documentation: Environmental and Social Impact Assessment, Environmental and Social Management Plans, and Stakeholder Engagement Plan; and - Follow-up meetings and interviews with relevant Project representatives.

The results of this review formed the basis for the evaluation of the Project’s alignment with relevant international standards, and recommendations for future compliance and monitoring.

Taking account of the review, the Project was deemed to have potential to cause a number of adverse environmental and social impacts both during construction and operation. However, a proposed suite of controls as part of the Project’s environmental and social management systems should facilitate the management of these impacts.

11.CLIMATE CHANGE CONSIDERATIONS

UKEF considered the potential direct and indirect green house gas (GHG) emissions of the Project and effects of climate change factors on the Project as part of its ESHR review.

The Project is not considered to be a carbon intensive undertaking (such as fossil fuels or petrochemical and so “high” GHG emissions in excess of relevant thresholds for quantification and reporting set by international standards were reasonably not envisaged.

The review revealed that the Project design has considered potential physical impacts of climate change such as changes to flooding, extreme heat, drought, sever storms, extreme precipitaton and wildfires.

12.DECISION

Various actions have been agreed between the Project developer, operator, and parties involved in the financing, which are necessary to ensure the Project’s on-going alignment with international standards. Following agreement of these commitments, it was concluded that the Project should meet the relevant international standards over the Project cycle. UKEF has therefore decided to provide its support in respect of the supply of goods and services by UK exporters to the Project. 5

A condition of support is that Project will be subject to monitoring and reporting in order to provide satisfaction that the Project is aligned with the relevant international standards throughout the duration of support.

UK Export Finance

06.08.2025