The World Bank will pay out US$70 million to finance Angola’s Local Development Project (PDL), under an agreement signed on Tuesday in Luanda by Finance Minister Archer Mangueira and the interim World Bank representative, Oliver Godron.

The PDL, to be implemented by the Social Support Fund (FAS) together with the Ministry of Land Administration and State Reform, will boost three components of basic social infrastructure financing over three years. This will include building hospitals and medical centres and residences for both nurses and teachers.

The director general of the Social Support Fund, Santinho Filipe Figueira, said the financing will also benefit local economic development projects, such as investments by some private initiatives in the agriculture and trade sectors.

Angolan news agency Angop reported that the second phase of the PDL will also fund community and health development agents as part of a pilot scheme to be implemented in the provinces of Uíge, Bengo, Luanda, Moxico, Malanje, and Lunda-Sul.

The previous phase of this project, which lasted five years, received World Bank funding of US$87 million. (macauhub)