AfDB Vice-President Concludes Successful Mission to Angola, Highlights New Strategic Cooperation

Since its inception in Angola in 1980, the AfDB has approved over $3 billion in projects to support the country's development agenda.

Marie-Laure Akin-Olugbade, Vice-President for Regional Delivery, Integration, and Business Delivery at the African Development Bank (AfDB), has concluded a productive mission to Angola, aimed at laying the groundwork for the Bank’s new 2024-2029 Country Strategy Paper.

During her visit from 25-28 June, Akin-Olugbade engaged in strategic dialogues with Angola's authorities, emphasizing the AfDB's commitment to scaling up transformative operations in the country. Key meetings were held with senior government officials, including the Minister of Planning and Governor of the Bank Victor Hugo Guilherme, the Minister of Finance, and representatives from sector ministries such as Energy and Water, Transport, Agriculture, and the Sovereign Wealth Fund. She was also received at the Presidency of the Republic by the Minister of State for Economic Coordination, José de Lima Massano.

The discussions centered on the cooperation priorities between Angola and the AfDB, focusing on accelerating economic diversification, promoting job creation, harnessing Angola’s youthful demographic dividend, investing in agriculture, and advancing a robust pipeline of energy projects. These initiatives aim to transition Angola from a fossil fuel exporter to a provider of clean energy across Southern and Central Africa.

Highlighting the AfDB's past achievements in Angola, Akin-Olugbade noted successful projects that have provided access to water and sanitation for over 80,000 households in coastal towns. During a field visit to the Bank-financed Science and Technology Park of Luanda, she commended the park’s contributions to innovation and research, benefiting academia, the private sector, and start-ups.

At a reception marking the AfDB's 60th anniversary, Akin-Olugbade expressed optimism about Angola's economic diversification efforts and agricultural sector revival, which has outpaced the oil sector growth in recent years. She underscored the importance of collaboration to equip the labor force with necessary skills, create job opportunities, and inspire hope among Angola's youth and women.

Minister Victor Hugo Guilherme acknowledged the strategic partnership between Angola and the AfDB, welcoming the Bank’s support for sustainable agricultural value chains, clean energy infrastructure, reliable water supply, and transport corridors. He reaffirmed Angola's commitment to implementing structural reforms aimed at enhancing competitiveness in the non-oil sectors, aligning with the objectives of the third National Development Plan (NDP 2023-27).

Since its inception in Angola in 1980, the AfDB has approved over $3 billion in projects to support the country's development agenda.

The visit of Vice-President Akin-Olugbade signals a renewed commitment by the AfDB to bolstering Angola’s economic resilience, fostering inclusive growth, and advancing sustainable development across the nation.