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Wed, 13 Mar 2019 18:46 - Updated Wed, 13 Mar 2019 18:46

Angola gets USD 1 billion from World Bank

Luanda - Angola will benefit in the coming months from a USD 1 billion World Bank loan to finance projects related to direct budgetary support, social protection and the water sector, said Wednesday the vice president of this financial institution, Hafez Ghanem.

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Archer Mangueira - Ministro das Finanças

Photo: Francisco Miudo

President João Lourenço (right) welcomes vice-president of the World Bank

Photo: Francisco Miudo

The announcement was made by the head of the World Bank, at the end of the meeting with the President of the Republic, João Lourenço, with whom he defined the institution's priorities in helping Angola's development agenda.

According to Hafez Ghanem, the World Bank intends to work to support the development of the country and combat poverty in the field of social security, education and health.

"Angola is a very important country for the WB, and we value our partnership a lot, so we want to support the reform process that happens," he said.

Angolan Finance Minister Archer Mangueira, who attended the meeting  stressed the importance of the partnership with the World Bank, calling it "very valuable".

Archer Mangueira valued the firm decision of the WB support to the Angolan treasury with the financing of 500 million dollars, already guaranteed for this year, and that in the next three years, reach the figure of USD 1.5 billion.

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