Angola: ADB funds projects worth US$33 million

17 December 2007

Luanda, Angola, 17 Dec – The government of Angola and the African Development Bank (ADB), Friday in Luanda signed two financing deals totalling US$33 million, officials said.

One of the agreements aims to carry out projects in the area of water supply to the value of US$24 million.

The other, worth a total US$9 million, aims to boost financial capacity and “qualifying human resources,” aiming for “internal control.”

Speaking to journalists at the end of the ceremony, which was held at the Finance Ministry, the national director for the Treasury, Armando Manuel, noted that these agreements were based on the idea that the Angolan economy is, in this case, being financed by an institution that is a result of the financial efforts made by African countries. (macauhub)