Africa-Press – Angola. An innovative budgetary support package has been recently approved by the Board of Directors of the World Bank Group (WBG) to boost structural reforms and the ongoing economic diversification process in the country.
The information was made official in Washington, United States of America (USA), by the World Bank’s Director of Operations for Angola, Burundi, Democratic Republic of Congo (DRC) and São Tomé & Príncipe, Albert Zeufack, at the end of a meeting between the Angolan delegation and the World Bank’s Regional Vice President for Eastern and Southern Africa, Ndiamé Diop, within the framework of the World Bank and International Monetary Fund Spring Meetings, which are taking place from the 13th to the 18th of the current month.
In statements to the Angolan press, the official stated that this is the first instrument of its kind to be approved in the world and has guarantees from the World Bank and the Multilateral Investment Guarantee Agency (MIGA).
Albert Zeufack explained that during the meeting, the transformative initiative that Angola is implementing with the Lobito Corridor and others in the water sector was also discussed, with emphasis on the Bita project, which in his view should be replicated in other countries around the world.
“The Lobito Corridor is becoming a good example of how to transform infrastructure into a corridor of economic development and a platform for job creation for the Angolan population,” he stressed.
He also spoke of the World Bank’s intention to faster the implementation of projects in its portfolio in Angola, in order to further improve the living standards of the population.
He pointed out that if implementation is not accelerated, the population will not feel the impact of these projects.
Therefore, he believes it is necessary to reorganize and increase the dispersion rate of existing projects.
Alongside Bita and the Lobito Corridor, Albert Zeufack praised the level of implementation of agricultural, digital and other projects that have improved the lives of Angolan families.
Also on Tuesday, the Angolan delegation met with technicians who monitor the structuring projects financed by the World Bank in Angola.
In the afternoon (Washington time), the Angolan delegation meets with the executive director of Standard Charrettes, Dalu Ajene, with whom they will discuss issues linked to areas of mutual economic interest.
The delegation also meets with the director of development cooperation and institutional relations, Carlo Rossoto, within the framework of the Mattei Plan for Africa, aiming to explore concrete financing opportunities in support of national financing priorities, among other meetings.
The Spring Meetings of the World Bank (WB) and the International Monetary Fund (IMF) began on Monday (13) and goes till Saturday (18).
The event takes place under the motto “Building prosperity through policies” and brings together central bank officials, finance and development ministers, parliamentarians, private sector executives, civil society representatives and academics.
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