World Bank provides US$102 million to finance projects in Angola

30 May 2007

Washington, United States, 30 May – The World Bank said Tuesday in Washington it had approved a US$102 million loan to Angola, for infrastructure projects for reconstruction of the African country.

The financial support, granted through the International Development Agency, will focus on “improving infrastructures, support refurbishment or construction of road access and main road (including bridges), electricity services, water supply in rural areas and provincial capitals and urban infrastructures.”

“The program aims to help build the foundations for reconstruction in the long terms, economic rehabilitation and re-establishing state administration over the country,” the World Bank said in a statement.

The loan, which will not begin to be repaid for 10 years, has a 40 year maturity. (macauhub)