Africa-Press – Angola. The Director-General of the International Finance Corporation, Makhtar Diop, arrived in Luanda on Tuesday for a four-day visit to Angola, aimed at deepening the intervention of this institution, a member of the World Bank, in the country’s economic diversification process.
According to his visit’s agenda, the official will hold meetings with government authorities and leading business figures from the agribusiness and industry sectors, with the objective of reflecting on how the International Finance Corporation (IFC) can deepen its support for economic development and job creation in Angola.
According to a press release on Tuesday, the meetings will also analyze ways in which Angola can expand the private sector in priority areas such as agribusiness, energy, and tourism.
The occasion will be used to cement IFC’s commitment to the National Development Plan 2023-2027, focused on economic diversification, structural transformation and inclusive growth.
Makhtar Diop’s work agenda also includes a visit to the Porto do Lobito railway terminal, which will connect Angola to the Democratic Republic of Congo and Zambia, through the Lobito Corridor, offering strong potential to reinforce trade, investment and employment opportunities.
The director general of the International Finance Corporation has also held the position of Minister of Economy and Finance of Senegal.
IFC, together with the International Bank for Reconstruction and Development (IBRD) and the Multilateral Investment Guarantee Agency (MIGA), is identifying opportunities in the agri-business, manufacturing, housing, among other sectors, with a view to stimulating more diversified growth.
In addition to the World Bank Group, the Lobito Corridor also has the support of the United States, which they see as a strategic opportunity to strengthen infrastructure and regional connections, helping to boost regional trade, boost economic growth and promote sustainable development.
Since opening its local office in 2019, IFC has built up an active investment portfolio in Angola of around US$200 million and plans to invest US$1 billion by 2032, in sectors such as manufacturing, agribusiness, digital infrastructures and trade finance.
IFC is the largest global development institution dedicated to the private sector in emerging markets. It operates in more than 100 countries, mobilizing capital, technical expertise and influence to create markets and opportunities in developing countries.
In fiscal 2025, IFC allocated a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector-led solutions to reduce poverty.
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