The partnership between UNDP and the Ministry of Economy and Planning aims to promote an inclusive transition from the informal economy to the formal economy and improve access to support services for business development and digital financial services (mobile money), as well as strengthen capacity of the technical management unit of the Informal Economy Reconversion Program (PREI).
According to a note from the MEP, the transition from the informal economy to the formal economy aims to create better conditions for informal workers, promoting their inclusion in social security and collaboration with local services in urban markets.
The MEP, UNDP and their PREI implementing partners are also committed to carrying out interventions aimed at ensuring an inclusive process, with a special focus on women, youth and the most vulnerable social classes.
The informal economy has a significant weight in the country and employs around 80 percent of the labor force, which has suffered a significant loss of income due to covid-19.
United Nations supports transition to informal economy with 3 million dollars
The United Nations Development Program (UNDP) in Angola and the Ministry of Economy and Planning signed a financing agreement to accelerate the transition from the informal to the formal economy, valued at US$3 million.
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