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Wed, 07 Feb 2018 09:40 - Updated Wed, 07 Feb 2018 09:43

World Bank makes available USD 70 million for local development

Luanda - A three-year financial agreement amounted at USD 70 million was signed last Tuesday, in Luanda, between the Republic of Angola and the World Bank (WB), aimed for the funding of a "Local Development Project".

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Finance minister (l) signs for Angola a financing agreement with the World Bank.

Photo: Antonio Escrivao

Finance Ministry and World Bank sign funding agreement.

Photo: Antonio Escrivao

The diploma - signed by Finance minister Archer Mangueira and the interim representative of the World Bank, Oliver Godron – is to be implemented by the Social Support Fund (FAS) in co-ordination with the Ministry of Territory Administration and State Reform.

This WB funding is intended to reinforce existing financing lines invested in basic social infrastructures, with highlight on the construction hospitals and medical centres, as well as residences for medical staffs and teachers.     

In this ambit, the general director of the Social Support Fund (FAS), Santinho  Filipe  Figueira, explained that the financing will also be used to boost local economy development projects, by supporting private investments in the areas of agriculture and trade.

Thus, the Local Development Project is also intended to finance community and sanitary development agents, a pilot initiative that is to be implemented in the provinces of Uige, Bengo, Luanda, Moxico, Malanje and Lunda-Sul.

The funding is also aimed at training local administration staffs, an action that counts on the involvement of the Local Administration Training Institute (IFAL).  

On the occasion, the Finance minister, Archer Mangueira, said that the agreement strengthens the relations between the Angolan government and the World Bank.

“This agreement comes at a good moment, because it will strengthen the institutional capacity in the local development domain”, he reiterated.

On his turn, the interim representative of the World Bank in Angola, Oliver Godron, assured his institution’s support to the actions of the Angolan Executive, headed by President João Lourenço.

Tags Financing  

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