ADB foresees disbursement of 1.5 billion USD in the national economy over the next 5 years.

The entity's representative in the country argues that part of the amounts will be applied to an “active portfolio of projects”.

The African Development Bank (ADB) plans to disburse a total amount of 1.5 billion dollars to the national economy over the next five years, said its representative in Angola, Pietro Toigo, during the launch ceremony of the National Development Strategy. Angola 2024-2029 and celebrating 60 years of ADB.

In Kwanza, the value amounts to 857 billion, and part of this 'cake' will be invested in an active portfolio of projects that the largest African financing institution has in the country.

“The expectation is to reach 1.5 billion dollars (857 billion KZ) by 2029”, he added, that the amount “is a drop of water in the ocean” given the economic and social needs that the country faces.

"It may not seem like a lot, but it is a drop in the ocean, considering the demographic challenges of employability and transformation that Angola currently faces," said the representative.

The ADB says, however, that it will contribute not only with financial resources, but also with knowledge and sharing of experiences to improve Angola's economic and social framework and encourage the development of the country's economy.

ADB foresees disbursement of 1.5 billion USD in the national economy over the next 5 years

The entity's representative in the country argues that part of the amounts will be applied to an “active portfolio of projects”.

Jul 3, 2024 - 12:18
ADB foresees disbursement of 1.5 billion USD in the national economy over the next 5 years
© Photography by: DR
ADB foresees disbursement of 1.5 billion USD in the national economy over the next 5 years

The African Development Bank (ADB) plans to disburse a total amount of 1.5 billion dollars to the national economy over the next five years, said its representative in Angola, Pietro Toigo, during the launch ceremony of the National Development Strategy. Angola 2024-2029 and celebrating 60 years of ADB.

In Kwanza, the value amounts to 857 billion, and part of this 'cake' will be invested in an active portfolio of projects that the largest African financing institution has in the country.

“The expectation is to reach 1.5 billion dollars (857 billion KZ) by 2029”, he added, that the amount “is a drop of water in the ocean” given the economic and social needs that the country faces.

"It may not seem like a lot, but it is a drop in the ocean, considering the demographic challenges of employability and transformation that Angola currently faces," said the representative.

The ADB says, however, that it will contribute not only with financial resources, but also with knowledge and sharing of experiences to improve Angola's economic and social framework and encourage the development of the country's economy.