Ver Angola


Government and BM sign the last installment of the 1.7 billion support package

The Government and the World Bank (WB) sealed, this Tuesday, the budget support package by initialing the last Development Policy Operation (DPO3). This last portion, worth 500 million dollars, is added to the other two previously granted, making a total of 1.7 billion dollars.


The recent agreement - signed by Vera Daves, Minister of Finance, and by Jean-Christophe Carret, regional director of the World Bank for Angola, the Democratic Republic of Congo, Burundi and São Tomé e Príncipe - thus joins the other two shares granted in the last years. The first installment was signed in 2019 and concerned 500 million dollars, the second installment of 700 million dollars was initialed last year and the third, signed this Tuesday, concerns 500 million dollars.

All in all, the total support package amounts to a total of 1.7 billion dollars.

According to Angop, this aid has been generated since 2019, within the scope of a program for growth and insertion for the World Bank's cooperation with Angola. This project has helped the country to implement a macroeconomic climate as well as enabling the generation of jobs and fostering a better social and financial insertion.

Cited by Angop, Vera Daves took the opportunity to highlight the signing of the three financing tranches, having considered that the bank has become an indispensable partner, remaining willing to continue the collaboration in several areas.

The holder of the Finance portfolio also highlighted the help provided by this entity during the most agitated and less positive scenario caused by the pandemic.

She also stressed that "like the two DPOs, this new budget support operation is worth more than money, insofar as it reflects the Executive's commitment to carrying out the reforms it has committed to, whose positive effects are already felt".

With the execution of the DPOs, the institution helped the Government to improve the provision of services in terms of public finances, he pointed out, exemplifying that in February 2022, more transparency of the aggregated fiscal policy and the effectiveness of public expenditures, as well as the improvement public debt transparency, among others, writes Angop.

The official of the World Bank, quoted by Angop, considered that the end of this program translates into a chance to speed up the reform calendar that the country has been carrying out in recent years.

Jean-Christophe Carret also said that the "World Bank hopes to strengthen its partnership with Angola to ensure that the current economic recovery is sustainable and robust, even by supporting the country's economic reform agenda in future budget support operations".


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