Angola may benefit from US$450 million loan package from ADB

3 March 2011

Luanda, Angola, 3 March – Angola may benefit from a loan package of US$450 million from the African Development Bank (ADB) and US$32 million from the African Development Fund (ADF) over the next five years, Angola’s Minister for Planning said Tuesday in Luanda.

Speaking about a visit from a delegation of ADB directors, Minister Ana Dias Lourenço, who is the governor for Angola of the ADB, said that it was a mixed package that brought togethre loand from the ADB and the ADF, as the country had been classified as having medium development, based on its Human Development Index (HDI).

She said that this would happen because the ADB board of directors recently met and considered Angola to be a country that could be given access to the funds of the ADB itself and the ADF subsidised funds.

“In that context, the package will be of US$32 million from the ADF and US$450 million from the ADB, which will fundamentally be invested in the areas of agriculture, infrastructures and the social sector,” she said.

The visit by the delegation of 15 members of the board of ADB, according to the minister, is part of a programme of contacts with the reality of each country. (macauhub)