World Bank prepares new funding for Angola

28 March 2019

The World Bank is setting up a new funding line for projects with economic and social impact in Angola worth US$1.802 billion, the institution’s resident representative said on Wednesday in Luanda.

Olivier Lambert said that the projects began to be approved in November 2018 and added that this identification and evaluation will continue until 30 March 2020, according to the Angop news agency.

The resident representative of the World Bank said that several of the projects under analysis focused on the supply of drinking water in the southern region of Luanda, with others related to macroeconomic stabilisation, economic diversification and social protection.

Projects for the provision of electricity and additional support for social projects are included in the list under review to benefit from World Bank financial support.

The cost of projects in Angola financed by the World Bank since 2010 is valued at US$1.125 billion. (Macauhub)