Lobito – A delegation of the World Bank met Monday with the business community of the Lobito City, centre-west Benguela Province, with the aim to gather information about the business environment in the region.
Speaking to the press, the director of the Provincial Office for Integrated Economic Development, Samuel Maleze, said the meeting was the result of an ongoing project focused on speeding up the diversity of the Angolan economy and job creation.
During the meeting, the businesspeople expressed their concerns related to access to credit and the improvement of infrastructures, such as those in the sector of electricity, water and roads to reach agricultural fields in some locations of the province.
Samuel Maleze added that the government has outlined a development plan for the 2022/2027 period.
Based on the result of the consultation, the Provincial Government outlined a plan linked to budgeting and alignment that may fund the initiatives defined by it.
The World Bank delegation, headed by Cláudio Miguel Gomes, visited the Catumbela Industrial Development Park (PDIC), where they were briefed on its operation, the reality of the companies set up there and their difficulties, as well as the public-private partnership component.
The delegation also learnt about the potential of localities like Canjala, Biópio and Cubal, which are other spaces in the province reserved for the promotion of industry.
“We have to look at agribusiness and families, taking into account the micro-industry, which will give sustainability to the economy, mainly in the food and nutritional aspects”, Maleze said.
The World Bank delegation was accompanied by high-level officials of the Ministry of Economy and Planning. After Benguela, the delegation will travel to Moxico Province on Wednesday to obtain more information about the Lobito Corridor.
The World Bank Group supports Angola’s efforts to reduce poverty and promote economic growth, working together with the government, development partners and civil society.
For example, in March 2022, the World Bank Board approved two financing totaling 560 million US dollars to support essential tax policy reforms and strengthen statistical capacity in Angola.
The 500 million US dollars Development Policy Operation, the third in a series of three, aims to support the Angolan government in achieving more sustainable and inclusive growth through a macro-financial and institutional environment conducive to private sector-led growth.
The policy operation supports the Angolan government in pursuing key reforms to build stronger foundations for economic diversification, job creation, resilience to climate and economic shocks, and poverty reduction. This operation aims to achieve better fiscal policy outcomes, including easing fiscal pressures on state-owned enterprises, achieving financial sector stability, increasing private sector participation, and improving protection measures and livelihoods for the poor.
The 60 million US dollars Statistical Capacity Strengthening Financing Project aims to improve the country’s statistical capacity, its ability to produce data efficiently and its use in monitoring public programmes.
Source: Angola Press News Agency