Washington: Angola concluded its participation in the annual meetings of the World Bank and International Monetary Fund (IMF) with significant achievements, securing financing guarantees for private sector projects. The meetings, held in Washington, D.C., provided a platform for Angola to negotiate with World Bank Group financial institutions, particularly focusing on private sector development.
According to Angola Press News Agency, Victor Hugo Guilherme, the Angolan minister of planning, led the delegation and successfully engaged with the International Finance Corporation (IFC) to secure additional financing for Angola’s private projects. The IFC responded positively to Angola’s requests, marking a successful negotiation outcome for the country.
The minister highlighted that the IFC completed a study examining business opportunities along the Lobito Corridor, which links Angola, the Democratic Republic of the Congo (DRC), and Zambia through a railway line in Angola’s Benguela province. This study underscores the potential for economic growth and development in the region.
Additionally, Guilherme noted that the Angolan tourism sector has piqued the interest of the IFC. While the IFC’s preliminary portfolio in Angola is diverse, encompassing infrastructure construction, not all projects have been approved yet. The minister emphasized the importance of thorough project preparation to ensure the arrival of financing, acknowledging the World Bank’s assistance in this critical phase.
Guilherme stressed the necessity for engagement and preparation, citing the Lobito Corridor as a prime example of a well-structured project. He conveyed that without adequate preparation, Angola may not receive the expected support, underscoring the importance of strategic planning in securing international assistance.
The annual World Bank and IMF meetings serve as a forum for government representatives, central bankers, private sector leaders, and civil society members to deliberate on global economic issues, poverty eradication, and development strategies. The forthcoming annual meetings are scheduled to take place in Thailand in October 2026.
