9 January 2018

Angola: Executive Authorizes U.S. $70 Million Agreement With World Bank

Luanda — A financial agreement worth US $ 70 million between the Republic of Angola and the World Bank was authorized in a presidential decree to cover the Local Development Project (PDL).

The financial agreement with the World Bank will be signed through the International Bank for Reconstruction and Development (IBR), according to the presidential decree published in the Official Gazette, on January 4, 2018, to which Angop had access on Monday.

The agreement falls under the need for the implementation of the Executive's programme regarding the diversification of financing sources for the implement of public investment programmes.

In November 2017, the World Bank Vice President for Africa, Makhtar Diop, visited Angola, having on the occasion reiterated the WB readiness to strengthen technical assistance to the Angolan Central Bank and increase financing to the sectors of education, health, agriculture and energy and water.

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