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World Bank releases $230 million for agriculture in Angola

Staff Writer |
The World Bank will release $230 million for the country's agricultural and commercial projects in the context of economic diversification.

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The information was released by the World Bank's representative in Angola, Clara de Sousa, at the end of a debate on "mechanisms to access international financing lines" in the framework of the 49th edition of First Friday Club.

This event is promoted on the first Fridays of each month by the United States - Angola Chamber of Commerce (USACC).

According to her, World Bank loans are granted through the state, which later direct the funds to business institutions and entrepreneurs who submit viable projects.

On his turn, the representative of the African Development Bank (AfDB), Martin Septime, announced that the institution has several ongoing projects with the initial value of $1.6 billion for funding.

Among the projects, he highlighted the projects of the productive sector, such as in the fields of energy, water and sanitation, artisanal fishing, environment and institutional capacity building.

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