The Angolan Road Fund, an organisation that will bring together all financial resources for the conservation and maintenance of the country’s road network, has had its organic statute approved by presidential decree, according to Angolan news agency Angop.
The Fund will have the basic function of reviewing and approving all proposals submitted by the Angolan National Roads Institute (INEA), the provincial governments and municipal administrations for the inclusion of those projects in the Annual Angolan Roads Conservation and Maintenance Programme.
The Road Fund can also select through a public tender, award and hire companies for the implementation and development of the National Programme for Conservation and Maintenance of Roads and oversee the physical and financial management of contracts concluded under that programme.
It also has the mission to provide funding for road maintenance and improvement works according to a schedule set for each financial year and to ensure the transfer of revenue that, under the terms of the presidential decree, is assigned to it. (macauhub/AO)