AfDB finances projects in Angola worth US$797 million

23 March 2018

The African Development Bank (AfDB) currently has a funding portfolio of US$797 million for nine projects in Angola.

According to Angolan state news agency Angop, of this portfolio of projects, 54.9% are for the financial sector, 15.1% for agriculture, 14.2% for water and sanitation, 10.3% for the social sector, 2.1% for the environment, 2.9% for multi-sector support and 0.5% for transport.

A delegation of the AfDB visited the Laúca Hydroelectric Project in Angola and the artisanal fishing project in Cabo Ledo to assess the use of the bank’s funding.

In April 2017, the AfDB approved a new Cooperation Strategy for Angola for the 2017-2021 period.

Angola has been a regional member of the AfDB since 23 June, 1980. Since then 44 projects have been financed by the AfDB with a total of US$2 billion. (macauhub)