IFC Director Secures $300 Million for Angola’s Private Sector

Luanda: The Director-General of the International Finance Corporation (IFC), Makhtar Diop, concluded his four-day visit to Angola, where he secured a commitment of USD300 million to finance the private sector. This funding aims to enhance agriculture, national tourism, and logistics. According to Angola Press News Agency, the IFC plans to increase its investment portfolio in Angola to a billion dollars by 2030. Diop's visit included a trip to Benguela Province, where he toured the operations control center, the Lobito Atlantic Railway (LAR) office, and facilities of the Carrinho Group. He also met with the provincial governor, Manuel Nunes Júnior. During his time in Angola, Diop, who leads the financial arm of the World Bank Group, engaged with President Joo Lourenço, the Government's economic team, and participated in a high-level inter-ministerial roundtable. The IFC, the largest global development institution focused on the private sector in emerging markets, operates in over 100 countries, aiming to cre ate markets and opportunities in developing nations. The IFC's strategic priorities encompass renewable energy, climate, infrastructure, financial inclusion, sustainable agriculture, and private education and health. In the 2025 fiscal year, it allocated $71.7 billion to private enterprises and financial institutions in developing countries, leveraging private sector-led solutions to foster a world without poverty on a sustainable planet. The current IFC financing portfolio in Angola is valued at $200 million, with expectations to reach $1 billion in the next four years.