World Bank to support Angola’s development plan with $1 billion

Gregor Binkert, a representative of the World Bank in Luanda, on Tuesday said the bank has decided to inject one billion dollars into Angola’s economy in support of its three-year national development plan.

Binkert said the bank has decided to support Angola for being an African country that was growing considerably in recent years.

He said the fund coming through the International Bank for Reconstruction and Development would be invested in infrastructure with a special focus on education, health and agriculture.

Binkert said it was essential to support Angola in implementing its national development plan, as the country needed more infrastructures to improve the well-being of its people.

“We want in the coming months to analyse and see what are the priorities and mechanisms that will be essential.

“This will be necessary as we provide the resources of the World Bank as collateral that can leverage more financing to the private sector,’’ he said.

Xinhua/NAN