Luanda: The World Bank will maintain and expand its support for priority projects in Angola, particularly focusing on the Bita project, aimed at supplying drinking water, and the Lobito Corridor. This commitment was affirmed in Luanda by Tsutomu Yamamoto, the executive director of the Multilateral Investment Guarantee Agency (MIGA), following a meeting with Angola's President Joo Louren§o. The discussions centered around ongoing projects and plans to strengthen cooperation between Angola and the World Bank.
According to Angola Press News Agency, Tsutomu Yamamoto expressed satisfaction with the cooperation between the two entities, highlighting the significant progress made in implementing World Bank-supported projects. "We are seeing progress in ongoing projects, and our cooperation with Angola has already proven to be very fruitful. Therefore, we will continue to work on these projects," Yamamoto stated.
Regarding the Bita water supply project, Yamamoto announced the initiation of necessary exchanges to prepare for the project's next phase. He also emphasized the importance of regional coordination for the Lobito Corridor, given its strategic significance to the region.
Angola remains a priority for the World Bank Group. Tsutomu Yamamoto confirmed that Angola is a key focus for the organization, with a cooperation agenda spanning energy, agriculture, trade finance, and minerals. "During this trip, I had the opportunity to confirm that Angola is a priority country at the World Bank Group level," he noted.
The World Bank Group, through MIGA, intends to continue supporting development projects in Angola, with Yamamoto assuring that the institution already has "a very large level of exposure" in the country. He added, "We want to continue expanding this support."
Tsutomu Yamamoto's meeting with President Joo Louren§o also facilitated the exchange of information regarding the Angolan Executive's priorities and the ongoing projects supported by MIGA. The Multilateral Investment Guarantee Agency, part of the World Bank Group, focuses on promoting private investment in developing countries by offering guarantees against specific non-commercial risks.
