Angola: WB Closes Usd 1.7 Billion Budget Package

10 May 2022
Angola Press Agency (Luanda)

Luanda — The Angolan government and the World Bank on Tuesday signed the latest Development Policy Operation (DPO3), worth USD 500 million, for budget support, totalling USD 1.7 billion.

The support has been designed, since 2019, within the framework of the programmatic series for growth and inclusion for World Bank Cooperation with Angola, since the beginning of the current governance.

This latest "Operational Financing Agreement" was signed by the Minister of Finance, Vera Daves, and the WB regional director for Angola, Democratic Republic of Congo, Burundi and Sao Tome and Principe, Jean-Christophe Carret.

The first instalment was USD 500 million, the second was USD 700 million and the final instalment is USD 500 million.

This programme, the third and final operation, has been supporting the government in establishing a macroeconomic environment, as well as allowing for job creation and promoting greater financial social inclusion.

For the World Bank senior official, the conclusion of this development finance programme is an opportunity to accelerate the reform agenda that Angola has undertaken in recent years.

Read the original article on ANGOP.

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