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WB to provide 1 billion USD loan to support Angola's development plan

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(Globalpost/GlobalPost)

LUANDA, May 26 (Xinhua) -- The World Bank (WB) planned to make available 1 billion U.S. dollar to Angola in support of the country's national development plan for the 2013-2017 period, a world bank's official said here on Monday.

The fund will be invested in infrastructure with an emphasis on education, health and agriculture, the official news agency Angop quoted Gregor Binkert, the WB's representative in Luanda, as saying.

"The World Bank has decided, through the International Bank for Reconstruction and Development, to support Angola for being an African country that is growing considerably in recent years," Binkert said at a workshop on "Financing Infrastructure, Agriculture and Livestock," co-organized by the Angolan National Agency for Private Investment and the World Bank.

The representative said it was essential to support Angola in implementing its national development plan, as the country needed more infrastructures to improve the well-being of its people.

"We want, in the coming months, analyze and see what are the priorities and mechanisms that we provide the resources of the World Bank and use the money as collateral that can leverage more financing to the private sector," he said.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140526/wb-provide-1-billion-usd-loan-support-angolas-development-pl