African Development Bank pledges more support to Angola

1 March 2011

Luanda, Angola, 1 March – Angola may benefit from funding of US$32 million from the African Development Bank (ADB) over the next three years to fund social and economic projects, the organisation’s chief executive said in Luanda.

According to Angolan news agency Angop, Mary Muduulo is part of a delegation of ADB directors visiting Angola to meet with the Angolan authorities and supervise development projects.

At the end of a meeting the ADB delegtaipn had with Planning Minister, Ana Dias Lourenço, Muduuli reiterated the ADB’s support for Angola’s reconstruction process and said that the country could obtain large amounts of funding for the private sector.

At the meeting, which lasted around one hour, the two sides analysed the long term cooperation strategy that will define the areas and priorities of the bilateral relationship.

The ADB has provided Angola, since 1986, with a total of US$487 million, and m since 2000, its portfolio of aid has included eight projects worth US$120 million linked to agriculture, rural development and the environment (49 percent), education and health (27 percent), water and sanitation (16 percent) and multi-sector support, specifically institutional aid and a credit line (8 percent). (macauhub)