World Bank grants $300 million to help Angola speed up economic diversification
The World Bank has granted Angola $300 million to help it diversify its economy.
Ivan dos Santos, the Angolan secretary of state for public investment, announced the funding for the ‘Diversifica Mais (D+)’ project.
The project focuses on accelerating Angola’s “sustainable and geographically balanced” economic diversification, with the private sector as the main actor.
One of the project’s objectives is to improve the regulatory and institutional environment for trade, company registration and growth.
Mr Santos said it would also improve financial services, especially for companies owned or managed by women, expected to absorb $40 million.
He said 12,000 private companies are expected to benefit from the project directly.
(Xinhua/NAN)
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