Angolan government confident in World Bank loan approval

Angolan government confident in World Bank loan approval

The Angolan Finance Minister has expressed confidence in the approval by the World Bank of the loan of more than one billion dollars (about 888 million euros) requested by Angola.

"We are all looking forward to 'Angola Day', which will happen tomorrow [Tuesday]," said Archer Mangueira, speaking at the signing ceremony of three agreements with World Bank agencies to support the private sector.

Angola has requested a loan from the World Bank of more than US $ 1 billion; the decision will be announced by the board of directors of the financial institution.

"Tomorrow [Tuesday] we will talk about other perspectives that will be considered in our country, with the important funding that will certainly be approved by the World Bank's board of directors," Archer Mangueira said.

Angola's support for projects in the fields of agriculture, social welfare, water and energy was requested in March this year and in May a delegation of the World Bank's executive directors traveled to the country to review the reforms carried out by the Government.

At the time, the executive director of the World Bank, Fábio Kantczuk, was very impressed with the economic policy that the country is following at the end of an audience with the President of Angola, João Lourenço.

"We are dealing with an institution such as the World Bank, whose financing facilities are different from those of other commercial financial institutions," Archer Mangueira said at the meeting, stressing the more competitive interest rates and longer maturity periods.