Africa-Press – Angola. The World Bank’s Board of Directors approved two loans, totaling US$560 million, to support essential fiscal policy reforms and strengthen statistical capacity in Angola.
The Development Policy Operation (DPO), in the amount of US$500 million, the third in a series of three, will maintain support for the Government to achieve more sustainable and inclusive growth through a macro-environment. financial and institutional, conducive to private sector-led growth.
The Development Policy Operation supports the Angolan Government in the pursuit of fundamental reforms, which aim to build stronger foundations for economic diversification, job creation, resilience to climate and economic shocks and poverty reduction. The operation wants to achieve better fiscal policy outcomes, including alleviating fiscal pressures from public corporations, achieving financial sector stability, increasing private sector participation, and improving protection measures and livelihoods for the poor.
The US$60 million “Statistical Capacity Strengthening Project” aims to improve the country’s statistical capacity, its ability to produce data efficiently and its use for monitoring public programs.
Although Angola’s statistical capacity has increased over the past five years, according to the World Bank’s statistical performance indicators (SPI), its score is still lower than the average for Lower-Middle Income Countries (54.9 out of 100, in 2019 for Angola, compared to 56.7 for Low-Middle Income Countries).
The Statistical Capacity Building Project comprises three main components and summarizes institutional reform and statistical capacity, data production, project management and monitoring and evaluation.
In a note, Jean-Christophe Carret, director of the World Bank for Angola, says that “the approval of these two operations reaffirms the World Bank’s commitment to supporting reforms in Angola and strengthening the institutions of the country”, since, he concluded, “sustainable development can only be achieved through strong and effective institutions”.
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