World Bank official visits Angola to review regional strategy

Source: Xinhua| 2017-10-31 17:54:29|Editor: ying
Video PlayerClose

LUANDA, Oct. 31 (Xinhua) -- World Bank Vice-President for Africa Makhtar Diop is paying a three-day working visit to Angola from Tuesday to Thursday for a strategic review of regional integration, the Angolan Finance Ministry said.

Diop's visit will enable closer Angolan ties with the World Bank and help the country's agenda aimed at relaunching economic growth, poverty reduction, structural change, economic diversification, and economic and social inclusion, the ministry said in a statement released to the press on Tuesday.

As a result of the negotiations between Angola and the World Bank, according to the statement, the parties believe that an increase in the financial package is necessary to support important social sector projects, with emphasis on the electricity and sanitation sectors, taking into account the needs in the coming years.

The World Bank's current presence in Angola is focused on technical assistance, studies and project financing.

During his stay in Angola, Diop will meet with Angolan President Joao Lourenco, the finance minister, and other government officials.

Diop has been WB vice president for Africa since May 2012.

The World Bank invested 9.4 billion U.S. dollars in sub-Saharan African country programs during the 2016 economic year to meet development challenges, increase food safety and agricultural productivity, improve access to sustainable energy and provide economic opportunities.

The World Bank Group is an independent specialized agency of the United Nations System that represents the largest global source of development assistance, providing about 60 billion dollars annually in loans and donations to 187 member countries.