African Development Bank earmarks US$400 million to be applied in Angola

11 August 2011

Luanda, Angola, 11 Aug – The representative in Angola of the African Development Bank (ADB), Septime Martin said Wednesday in Luanda that the bank had around US$400 million to fund infrastructure projects and promote the private sector in Angola.

At the end of an audience with the Minister for Foreign Relations, Georges Chikoti, Martin said that the application of the results of the respective feasibility studies.

According to Angolan news agency Angop, the ADB representative added that the institution was currently funding projects worth US$60 million, ranging from artisanal fishing, to agriculture and the environment, as well as boosting capacity in terms of governance with the ministries of Finance and Planning.

“Job creation involves small and medium-sized companies and thus our objective is to create a favourable climate for the promotion of the private sector and access to credit so that these companies can compete,” said Martin. (macauhub)