Video PlayerClose
LUANDA, Feb. 7 (Xinhua) -- The World Bank (WB) signed an agreement with Angola Tuesday in Luanda, providing 70 million U.S. dollars to develop the local economy.
The agreement was signed by Angolan Finance Minister Archer Mangueira and Olivier Godron, the WB's acting representative.
The grant will finance the Local Development Project aimed at strengthening basic social infrastructure, especially hospitals and medical care centers.
It will also assist private initiatives primarily in agriculture and trade.
Mangueira said the agreement will help reinforce the capacity of local institutions.
