Luanda:The International Finance Corporation (IFC) has announced a significant investment portfolio in Angola, valued at one billion dollars. This initiative aims to enhance economic activity, promote financial inclusion, and develop strategic infrastructure within the country.
According to Angola Press News Agency, the disclosure was made by IFC Managing Director Makhtar Diop during a press briefing. The announcement followed his meeting with José de Lima Massano, Angola's Minister of State for Economic Coordination, held alongside the 6th Africa Financial Industry Summit.
Diop highlighted that the IFC's investments in Angola have seen substantial growth over recent years, with additional funding planned for the financial sector and small to medium-sized enterprises. He also revealed that the IFC would enter into agreements with Grupo Carrinho and Naval to enhance production chains in the agri-food sector.
Furthermore, Diop mentioned the IFC's focus on supporting small businesses operating along the Lobito Corridor railway line. This support is intended to aid in the transportation of minerals and agricultural products. The meeting also served to evaluate Angola's economic progress and explore potential new areas for cooperation with the IFC.
The IFC, established in 1956 as part of the World Bank Group, is dedicated to supporting the private sector in developing countries. With 189 member countries and headquartered in Washington, its strategic priorities include renewable energy, climate action, infrastructure, and sustainable agriculture, among others. The corporation's operations are designed to create jobs, enhance the business environment, and reduce poverty by bolstering the private sector.
