World Bank opens office in Angola

27 September 2019

The World Bank will open an office in Angola this year, a measure aimed primarily at supporting the country’s private sector, group chairman David Malpass announced in New York on Wednesday during an audience given by President João Lourenço.

Finance Minister Archer Mangueira, who announced the intention expressed by the president of the World Bank Group, said the office would give priority to public-private partnerships, with a focus on the Energy and Water sector.

Archer Mangueira, quoted by the Angop news agency, said Lourenço and Malpass had also defined a medium-term partnership strategy, which is being negotiated with the World Bank, a partnership that will focus on human capital, infrastructure and support to the private sector.

The minister also said that this meeting served to share measures that have been taken to correct fiscal, monetary and exchange rate imbalances in Angola, with some members of the Angolan Government’s economic team taking part.

President João Lourenço took advantage of the meeting with the head of the World Bank group to request its participation in the Government’s efforts to gather resources to reduce the effects of drought in the provinces of Huila, Kwando Kubango and Cunene.

The World Bank recently approved a US$1.3 billion financial support package for Angola. (Macauhub)