Ver Angola

Economy

Angola disbursed only 26 percent of the 1.5 billion dollars made available by AfDB

The Minister of Planning said, this Tuesday, that Angola disbursed only around 26 percent of the 1.5 billion dollars made available by the African Development Bank (AfDB) for the country.

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Victor Hugo Guilherme met, this Tuesday, with the vice-president of this international financial organization, Marie-Laure Olugbade, highlighting that AfDB's priorities for Angola are the same as those that the country has for its development.

According to a note from the Ministry of Planning, the AfDB has a portfolio of projects in Angola in the fisheries, agriculture, environment, finance, social, energy, water and sanitation sectors.

The official stressed that "the portfolio of these 11 projects has a cost of around 1.5 billion dollars".

"It should be noted here that of these 1.5 billion dollars, to date, we have only disbursed around 400 million dollars. It is a disbursement far below what was expected", said Victor Hugo Guilherme, in statements issued by Rádio Nacional de Angola.

In turn, the vice-president of the AfDB said that the bank approved, last week, its project implementation strategy for Angola in the period 2024-2029, congratulating the Government on the efforts made to diversify the economy, particularly in the sector of agriculture.

"We also want to facilitate the creation of decent jobs for youth," said Marie-Laure Olugbade, who is on a working visit to Angola until Friday.

According to a note from the Ministry of Planning, the two directors met with the aim of continuing the dialogue initiated between the Government and the AfDB administration during the annual meetings of this institution, held in Nairobi, Kenya, between the 27th and 31st of May last, about the bank's support partnership in relation to the country's development policies and initiatives.

The program of this AfDB mission includes, among other activities, meetings with the Minister of State for Economic Coordination, José de Lima Massano, with the Minister of Finance and 'Alternate' Governor of the AfDB, Vera Daves de Sousa, with the Minister of Energy and Water, João Baptista Borges, and with the Minister of Agriculture and Forests, Francisco de Assis, among other government entities.

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