Africa-Press – Angola. The World Bank (WB) reiterated, Monday, its will to continue to deepen cooperation with Angola, with main focus on the socio-economic development of Angolans.
The information was provided by the vice-president of the World Bank for East and Southern Africa, Victoria Kwakwa, at the end of an audience with the President of the Republic, João Lourenço, with whom she addressed this Monday, in Luanda, questions about the partnership between Angola and the financial institution.
“We talked about the ongoing program of reforms in the country and the program to help Angola to leverage its human capital to make it a state with a more productive economy,” said Victoria Kwakwa, economist and development specialist with more than 30 years of experience directing the BM’s activities in 26 countries.
He said that the meeting also served to talk about the diversification process of the Angolan economy, with the main focus on agriculture, so that Angola leaves economic dependence on oil.
In Victoria Kwakwa’s opinion, Angola must create an economy that is stronger and broader, with a connection to the more dynamic and vibrant private sector.
In this context, he stated that it is up to the Executive “to create a good environment, which can help the private sector to play its job creation role, with agriculture as a key element”.
Loan
Monday, the BM and the Angolan Ministry of Finance initial an agreement valued at USD 300 million for the project to accelerate economic diversification and job creation.
With regard to the loan, Victoria Kwakwa said that the value is essentially aimed at economic diversification to help in the progress of that process.
He explained that the same diversification process is focused on the Lobito corridor, in Benguela province.
“We aim to support micro, small and medium-sized companies, mainly in the agricultural sector, which can contribute to the Angolan economy”, he underlined.
As for the repayment of the loan, the Ghanaian economist at the service of the BM explained that the same will be done through the activities that are being programmed by the Angolan Government.
world Bank
The World Bank is an international financial institution that makes loans to developing countries.
It is the largest and best-known development bank in the world, in addition to having observer status in the United Nations Development Group and in other international forums, such as the financial G-20.
The bank’s headquarters are located in Washington, DC, United States of America.
The bank’s mission is to achieve the twin goals of eradicating extreme poverty and building shared prosperity.
It is composed of two organizations that work under the same structure:
International Bank for Reconstruction and Development and the International Development Association.
For More News And Analysis About Angola Follow Africa-Press
