ADB grants loan to Angola for private sector projects

19 December 2014

The African Development Bank (ADB) has signed an agreement with the Government of Angola to grant a loan of US$24.8 million finance private sector projects in the non-oil sector.

The agreement, to finance the Project to Strengthen Private Sector Development Capacity was signed by the ADB’s governor for Angola and Angola’s Minister for Planning, Job Graça, and the resident representative of the ADB in Angola, Septime Martin.

The credit line is intended to contribute to development of the private sector with support for competitiveness and to ensure greater participation of non-oil areas in the country’s Gross Domestic Product (GDP).

According to the ADB agreement provides US$24.852 million for the project and the government of Angola will grant US$2.79 million. (macauhub/AO)