Luanda – The European Union (EU) plans to make available 45 million euros to finance and enhance the implementation of the Informal Economy Reconversion Programme (PREI) in Angola in the last years, framed in the cooperation between both sides.
The announcement was made Monday, in Luanda, by the European Union (EU)’s ambassador to Angola, Jeanette Seppen, having explained that in addition to the mentioned amount, the referred European economic block has also available 15 million euros for technical assistance.
Also in the framework of the PREI ongoing since November 2021, the Angolan government has made available 3,300 micro-credits, valued at 3.7 billion kwanzas, allowing the formalisation of 246,000 operators, of which over 70% are women.
The Angolan government initiative aims essentially to improve life conditions of the most vulnerable populations and to increase household income, counting on the support of the European Union and Technical Assistance of the United Nations Development Programme (UNDP).
Talking to the press in the scope of the meeting between the European Union delegation and the minister of Economy and Planning, Mário Caetano João, the diploma reiterates the continued EU support in sustainable development programmes in the country.
Among several cooperation fields, she pointed to the economic diversification programme, corruption fight, governance and human capital development (technical training for agricultural entrepreneurs) as the main priorities of the EU in Angola.
For the period of 2021-2024, Ms Jeanette Seppen recalled that the EU has a global investment portfolio of about 275 million euros to finance strategic projects of social and economic development of Angola.
On that occasion, the minister of Economy and Planning, Mário Caetano João, stated that the financial support of the European Union (EU) will serve to deepen and widen further the PREI implementation, thus providing opportunities to young people.
Regarding other funding, the minister stressed that it would be used to improve education in middle schools for agronomy and agri-business, aimed at large scale production of grains and other crops.
The European Union has been represented in Angola since 1986 by a delegation based in Luanda capital province of Angola. In 2012, the EU in Angola signed a Joint Path agreement aimed strengthening this cooperation.
The cooperation programme is made through two main ways, namely as the bilateral partnership with the Angolan government and the support to the civil society organizations.
The political, social, economic and environmental sustainability are the EU focus, as well as the promotion of gender equality, youth support and digital solutions.
Source: Angola Press News Agency