Angolan Sovereign Wealth Fund pays for intervention plan in municipalities

28 June 2019

Angola’s Integrated Plan for Intervention in Municipalities, presented on Thursday in Luanda, will be financed with US$2 billion from the Sovereign Wealth Fund, said President João Lourenço.

Assets of the Fund which were beyond government control have been recovered, “which will enable implementation of programmes in the country’s 164 municipalities without having to resort to public indebtedness, said Lourenço, cited by Angop news agency.

The plan envisages actions in the sectors of education, health, administrative infrastructures, secondary and tertiary transport routes, public safety, basic sanitation, energy and water, among other important areas for communities.

“The government aims to make the municipalities the centre of national development,” the president said, adding that the plan to be developed by 2020 should be an opportunity for national enterprises to compete for the various projects.

The Integrated Plan covers the resumption of projects left unfinished due to lack of financing, the construction of nearly 4 thousand classrooms, financing for nearly 200 hospital equipment items, earthmoving and road surfacing, as well as 36 residential complexes. (Macauhub)