Africa-Press – Angola. The Director-General of the International Finance Corporation (IFC), Makhtar Diop, announced Thursday in Luanda that the institution is working with the Angolan government on financing three major electricity transmission lines, in addition to initiatives aimed at accelerating access to energy in rural areas.
Makhtar Diop provided this information to the press after an audience granted by the President of the Republic, João Lourenço, during which the main projects that the IFC intends to develop in the country were discussed.
The IFC official, who did not disclose financial figures, stated that the visit to Angola included contacts with private sector companies, the Angolan Sovereign Fund and several members of the Executive Branch, culminating in the meeting at the Presidential Palace.
He highlighted that the dialogue focused on the World Bank and IFC support program, aligned with the priorities defined by the Angolan Government.
The manager highlighted that IFC is involved in financing three structural electrical transmission lines for regional energy integration.
The first will connect the north of Angola to the south of the Democratic Republic of Congo; the second will connect the eastern region to the Zambia–DRC corridor; and the third will connect Angola to Namibia.
According to him, these investments will allow the country to export energy to neighboring states and strengthen its position in the regional market.
Makhtar Diop also highlighted the importance of accelerating rural electrification, a priority reaffirmed by President João Lourenço.
He highlighted that access to energy in rural areas remains limited and that this is currently the sector’s main concern.
The Executive Director also revealed that IFC recently signed two agreements with Angolan clients, one in the agricultural sector and the other in the agribusiness sector, with the aim of increasing local production and reducing dependence on food imports.
He considered that Angola has great agricultural potential and that the institution intends to support its transformation into real economic growth.
He added that investors from several countries, including Brazil, are showing growing interest in Angola, and that IFC is available to collaborate with these partners in promoting new investments.
During the visit, Makhtar Diop will travel to the Lobito Corridor, an infrastructure that he considers essential for national development.
He emphasized that, in addition to transporting minerals, the corridor has the potential to boost new value chains, logistics and economic diversification.
IFC, according to its director, is also evaluating new investment opportunities in the tourism sector, an area considered strategic for economic growth and attracting private capital.
“We are here to work with Angola, support the private sector and help the country realize its full potential”, concluded Makhtar Diop.
About IFC
The International Finance Corporation, created in 1956 and part of the World Bank Group, acts as the main support arm for the private sector in developing countries.
Headquartered in Washington and made up of 189 member countries, it is dedicated to promoting economic growth through direct investments, capital mobilization and technical assistance to the business sector.
Its strategic priorities cover renewable energy and climate, infrastructure, financial inclusion, sustainable agriculture, private education and healthcare.
Operations contribute to generating jobs, improving the business environment, increasing productivity and reducing poverty through strengthening the private sector.
Unlike other World Bank Group institutions, such as IBRD and IDA, which finance governments, IFC works exclusively with private companies, supporting projects in renewable energy, microcredit, energy efficiency, health, urban development, among others.
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