International Finance Corporation opens representative office in Angola

6 May 2019

The International Finance Corporation (IFC), of the World Bank Group, is opening a representative office in Luanda next September, said in Luanda, Frank Doumba, of the IFC.

The World Bank official acknowledged that to date, the IFC, has not provided the Angolan private sector with equal treatment compared to the public sector, during a meeting with students of the Faculty of Economics of Agostinho Neto University.

Of all funding applications, only two projects are in the pipeline, the first for the tourism sector and the second for information and communication technologies, valued at US$75 million, Doumba told state newspaper Jornal de Angola.

Doumba considered, however, that the business environment in Angola has been challenging, leading the IFC to make a diagnosis of the country’s private sector in September 2018, which drew the attention of the institution to the agricultural, telecommunications, energy and tourism sectors.

Christine Hogan, executive director of the World Bank Group for Canada, Ireland and the Caribbean, gave assurances at the meeting that the World Bank will reinforce the support it has provided to Angola. (Macauhub)