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World Bank Regional Director for Africa asks Angola for more investment in human capital

The World Bank's Regional Director for Africa made a positive assessment of his first visit to Angola, during which he conveyed to the government the need for greater investment in human capital.

: Jean-Christophe Carret, director regional para África do Banco Mundial, e Vera Daves, ministra das Finanças (Foto: António Escrivão/Angop)
Jean-Christophe Carret, director regional para África do Banco Mundial, e Vera Daves, ministra das Finanças (Foto: António Escrivão/Angop)  

Jean-Christophe Carret, who ended his visit to Angola this Thursday, spoke at a press conference in which he took stock of the four days of meetings with the government authorities of the Portuguese-speaking country.

The World Bank official said that he reviewed with the Government the existing partnership between the parties, "to understand what works, what does not work so well and what can still be done.

"In one word we have redefined the strategies in the partnership between the Government of Angola and the World Bank," he said.

Jean-Christophe Carret, who said he was impressed by the Finance Ministry's leadership, said the issues discussed focused on two themes, namely the social sector and the World Bank's technical support to accelerate the reforms being implemented by the country to diversify the economy and less dependency on the oil sector.

"I think there is a clear vision of what the government wants to do and when there is a clear vision it is easy for the World Bank to suggest possible projects, the dialogue around important reforms," he stressed.

He stressed that the main issue that brought him to Angola was the redefinition of strategies, "in a world that is increasingly changing.

Regarding the current context, Jean-Christophe Carret pointed out that the World Bank is currently adapting its position on the pandemic and its side effects, with gradual adjustments.

Asked if the World Bank supports the withdrawal of the fuel subsidy, a process for which Angola is preparing, the World Bank's regional director for Africa said that the bank is supporting the implementation of this desideratum.

"To this end, we have to think about and have been implementing a program that aims to allocate resources to the most vulnerable, Kwenda, we talked about it throughout my visit and in the rounds we talked a lot about this project, which will certainly alleviate the need of those most in need at this time," he said.

Jean-Christophe Carret said he conveyed to the Government the need to invest in human capital for the country's growth and diversification of its economy.

"For the growth of the country and diversification of the economy, we do not always have to invest in roads, electricity and school construction (...) we always need to invest in man because if we have to attract investments in the future or now they will have to use human capital so that they can be implemented on the ground," he stressed.

For her part, Finance Minister Vera Daves said that the new director of the World Bank has come to the country to introduce himself and also to know the portfolio of existing projects.

"To know the set of constraints that the beneficiaries of these projects understand can be overcome and what the expectations are regarding the partnership between the Angolan government and the World Bank," she said.

Vera Daves stressed that the partnership with the World Bank is divided into two pillars.

The first relates to projects and project financing, which are progressing at a normal pace, in the areas of family agriculture, education and health.

"We have another pillar, no less important, which is related to the implementation of reforms and technical assistance, in this area we have the World Bank supporting us with the rethinking of the water sector, how water companies become more efficient," said the minister.

She said that the government is working with the World Bank in the same exercise concerning the telecommunications sector, so that it becomes more open and "powerful" with the involvement of private economic agents.

"We are also counting on technical assistance from the World Bank for financial inclusion, assistance in the implementation of the privatization program, is our strategic consultant," she added.

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