Luanda - The credit portfolio of the African Development Bank (AfDB) for Angola is of roughly 1 billion dollars, the resident representative of this financial institution, Pietro Tiogo, said Tuesday in Luanda.
Speaking to ANGOP on the sidelines of the official launching ceremony of the "Otchitanda Weza Temperos Rural Agroprocessing School" project, the AFDB representative explained that the funding has been used to develop the agriculture, energy, science and technology, fisheries, transportation, finance and governance sectors.
Projects related to water and sanitation in Angola also include the sectors financed by this bank, which approved in the first half of this year a 125 million US dollars package to support water and sanitation projects.
Pietro Tiogo added that the African Development Bank plans to provide additional 150 million US dollars funding to support initiatives related to agricultural production.
"In addition, we are preparing a financing package for next year. We are talking to the Angolan authorities to align the country's priorities. The idea is to add to the credit portfolio", Tiogo said.
The fiscal constraints facing African countries, including Angola, mean that more and more funding is needed, the AFDB official said, underlining Angola's economic diversification policies as an important milestone requiring investment.
"Our investments are aligned with national priorities. The government is drawing up the National Development Plan for the next five years and we are in parallel with this plan, also drawing up our strategy", Tiogo said.
Angola became a member of the African Development Bank in 1980. The first loan operations began in 1983.
Since then, the AfDB has approved a total of 53 loans and grants worth 2.95 billion US dollars in various sectors such as agriculture, fisheries, energy, water and sanitation, transport, finance, governance and for the development of the private sector. DIF/AC/amp/jmc
