WB approves USD 700 million to support sustainable growth

     Economy           
  • Luanda     Thursday, 18 March De 2021    17h58  
Largo da Mutamba em Luanda
Largo da Mutamba em Luanda
Domingos Cardoso

Luanda - The Board of Directors of the World Bank (WB) Tuesday in Washington (USA) approved a US$700 million Development Policy Operation (DPO) to support the Angolan government's efforts to boost financial and social inclusion and strengthen the macro-financial and institutional environment.

For greater growth led by the private sector, the DPO provides necessary funding in support of the Government's response to the Covid-19 pandemic and its socio-economic impacts, according to a WB note accessed by ANGOP.

Furthermore, the operation supports the Government's structural reform agenda, which has become even more urgent as a result of the Covid-19 pandemic, and which will create the conditions for a more robust economic recovery in the coming years.

"This DPO reaffirms the World Bank's confidence in the economic reforms underway in the country aimed at boosting the economy," said Jean-Christophe Carret, the World Bank director for Angola, cited in the document.

He added that the DPO's support focuses simultaneously on crucial macro-financial reforms and inclusion in order to ensure that the poorest and most vulnerable are protected.

The operation is organised around two pillars, each including several policy areas.

 





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