Angola to get additional $1.2 bn from World Bank, financial director confirms

The World Bank will provide an additional USD 1.2 billion loan to the Angolan Government to implement projects in varied sectors such as agriculture, improvement of economic statistics, water, electricity and human capital.

The financial institution director World Bank, Fábio Kanczuk made the declaration on May 2 in Angola’s capital, Luanda. He was speaking to the press after a meeting with the President of Angola, João Lourenço, with whom he addressed issues related to the most effective ways in which World Bank support for social impact programs in the country. With this loan (USD 1.2 billion), the amount granted by this institution will amount to USD 2.4 billion.

The head of the World Bank said he was ‘very impressed’ with the economic policies being implemented by the Angolan Head of State, that is why he wishes a "marriage" between the World Bank and the Government.

“We are going to have a marriage between the World Bank and the Angolan government, so that our institution is more effective, helping the government, implementing its economic policies that are in good path,” Kanczuk added.

With inputs from agencies.

Also Read: Angola joins hand with Austria’s International Atomic Energy Agency to work in several areas