Bangkok:The Angolan Government is actively seeking financial resources to bolster its economic diversification and promote inclusive growth through discussions with the World Bank, as announced by Secretary of State for Planning, Luís Epalanga, during the Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Thailand.
According to Angola Press News Agency, Epalanga emphasized that the funding Angola aims to secure will not compromise the sustainability of its public debt. The World Bank currently supports Angola with a portfolio exceeding US$5 billion, dedicated to the nation's social, economic, and productive sectors.
Epalanga noted that Angola plans to deepen its institutional dialogue with the IMF to explore areas where technical assistance could be advantageous. He mentioned that Angola has maintained a supportive relationship with the institutions, involving consultancy and guidance, and now seeks additional funding through new World Bank initiatives.
This funding, he explained, would support emergency responses and initiatives such as AgriConnect, which aims to improve the agribusiness value chain. Specific funding allocations include about US$300 billion for the water, sanitation, and hygiene sector. A pilot operation in the past year mobilized approximately US$750 million, with the current assessment determining future needs.
The Angolan delegation at the 82nd edition of the event is led by Secretary of State Luís Epalanga and includes high-ranking officials from various government sectors. The meetings, themed 'Thailand's New Horizons Empowering People, Building Resilience,' offer Angola a platform to engage in global economic discussions and present its priorities in financing and international cooperation.
The meetings of the World Bank Group and IMF aim to address major global economic challenges, continuing the legacy of the Bretton Woods Conference of 1944, which established both institutions. Angola, a member since 1989, continues to leverage the relationship to enhance its public financial management and promote economic growth.
