The World Bank has provided Angola with funding of US$280 million for the second Institutional Development Project for the Water Sector (PDISA2) and for the Commercial Agriculture Development Project, with a contract signed on Thursday in Luanda.
The document was signed by Finance Minister Archer Mangueira, the president of the Credit Guaranty Fund, João Júlio, and the World Bank representative in Angola and Sao Tome and Principe, Oliver Lambert, according to the Angop news agency.
Archer Mangueira said that the two financing agreements will make an important contribution to the Angolan economy, at a time when there are great challenges to economic diversification, and will be included in the 2018/2022 National Development Plan.
The Commercial Agriculture Development Project is part of a broader programme which, according to the finance minister, also has funding from the French Development Agency in the amount of 79 million euros.
The additional funding of US$150 million for PDISA2 will help to increase coverage of the drinking water supply in nine cities across the country, covering Lubango, Ndalatando, Dundo, Luena, Moçâmedes, Cuito, Huambo, Malange and Uíge, according to Lambert.
The representative of the World Bank pointed out that the funding will also increase the institutional capacity of provincial water and sanitation companies, the National Water Directorate, the Electricity and Water Regulatory Institute and the National Water Resources Institute of Angola.
The US$130 million to be invested in the Commercial Agriculture Development Project will, in turn, contribute to increased productivity and market access for eligible beneficiaries along two established road corridors.
The two corridors are Luanda-Bengo-Kwanza Norte-Malange and Luanda-Bengo-Kwanza-Sul-Huambo-North of Huíla, linking the main agricultural area of the central plateau to the most important urban markets in Luanda. (macauhub)