Angola expected to receive US$1 billion loan from World Bank

27 May 2014

The World Bank plans to loan US$1 billion to Angola to support execution of the 2013-2017 National Development Plan, the World Bank group’s director for operations in Angola said Monday in Luanda.

Gregor Binkert, who was speaking at a meeting on funding for infrastructure, agriculture and agro-livestock, co-organised by the National Private Investments Agency (ANIP) and the World Bank, said that the amount would be spent on building a number of facilities, notably in the education, health and agriculture sectors.

“The World Bank group decided, via the International Bank for reconstruction and Development (IBRD) to support Angola as it is an African country with a considerable arte of growth over the last few years,” he said adding that it was essential to support Angola, “because the country needs more infrastructure to improve the quality of life of its population.”

“Over the next few months we want to analyse and see what the priorities will be and the mechanisms in which we will provide World Bank resources and use the money for guarantees that can further encourage finding of the private sector,” he said according to Angolan news agency Angop. (macauhub/AO)