Ver Angola

Economy

Government plans to create fund to ensure continued financing of infrastructure

The ministries of transport and finance are working towards the creation of an Infrastructure Development Investment Fund, a mechanism to ensure continued financing of infrastructure.

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According to Transport Minister Ricardo de Abreu, the fund does not exist yet, but it is a proposal that has been working with the Ministry of Finance.

Ricardo de Abreu stressed that developing countries, in which Angola fits in, "need to make up the 'gap' [in infrastructure] that it has".

"And we have to have financial mechanisms that are not necessarily dependent on the General State Budget, that allow us to do it continuously in infrastructures, in a scenario where we can also include the financial capacity of the private sector, to support the state's effort, with that same fund that we intend to develop," he said.

Asked about the initial amount for the same, Ricardo de Abreu said there are no figures yet.

The proposal foresees that the future fund will be based on revenues from the monetization of structuring assets and premiums from operating concession contracts.

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