Angola: Arab Bank Pledges to Invest Over Usd 1 Billion in Angola

5 January 2023
Angola Press Agency (Luanda)

Zango — The Arab Bank for Economic Development in Africa (BADEA) has announced plans to invest over 1 billion US dollars in economic projects in Angola.

The intention is to boost the country's economy, said the commercial director of the Investment Forum for Angola (FIPA), Mohamed Dialó, has said.

Mohamed Dialó, who made the statement at the end of the 1st Angolan Investment Forum held on January 23-24 in Luanda, noted the amount is part of the USD 20 billion available for similar projects in Africa.

Dialò said Angola has great economic potential and added that the country wants to cooperate in several areas of the economy, as soon as the indicators to invest in key areas arise.

Also addressing the event, Manuel Francisco Pedro, Luanda/Bengo Special Economic Zone (ZEE) CEO said the investments in infrastructure, as well as bank loans are some of the solutions for future challenges in the economic sector.

Pedro added that one of the ZEE's strategies is to align itself to increase exports and attract more investors to the country, having underscored the need to find partners capable of responding to the challenges that the sector poses.

The ZEE CEO said the meeting also aimed to identify the real needs to further move to signing of financing agreements. He stressed the importance of the contact made with BADEA, taking into account the number of financial facilities it possesses that could help Angola.

Read the original article on ANGOP.

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