According to a note from the EU, the amount now made available for the PREI is the second disbursement of a total subsidy of 19.4 million euros, made available by the EU within the scope of the response to the covid-19 emergency in Angola.
EU support for PREI, a program launched in 2020, aims to strengthen resilience to external shocks, with particular emphasis on workers, especially women, who move from informal economic activities to formal economic activities.
The document stresses that the funds are channeled through a budget support program, signed in December 2020, and are linked to positive results under the PREI of the Government of Angola, measured by jointly agreed performance indicators.
"This disbursement marks the success of the Government's effort to create a public database that captures the formalization process in its various aspects, as well as promoting the financial inclusion of recently formalized workers", says the note.
With this subsidy, the document stresses, "the EU recognizes and supports the Government's commitment to reducing informality, in line with the aspiration to diversify the economy and promote decent jobs for all, in line with the commitment to achieve the Sustainable Development Goals (ODS)".
"The disbursement of this second payment follows a positive decision by the Strategic Steering Committee of the Directorate-General for International Partnerships (DG INTPA) of the European Commission, in December 2022", the note also says.
