April 17, 2003

World Bank to grant US$ 125 million

The World Bank will finance social and economic projects in Angola worth 125 million dollars, particularly for reconstruction of infrastructures, social reintegration of families and provision of better living conditions for the population.

Visiting WB Director for Angola and Mozambique, Darius Mans, revealed this in a press conference held at the Luanda-based Savings and Credit Bank (BPC) on Thursday, April 17. He also announced the implementation of priority projects already discussed and approved by the Angolan government, namely the betterment of services to vulnerable issues, improvement in the management of public resources and economic growth. According to Mr Mans, his institution's action are specifically directed to peace consolidation, national reconciliation and the main economic challenges the government is bound to face. The humanitarian situation, population resettlement and provision of services to the poorest communities were also issues addressed between himself and the Angolan government, he said.

Some weeks ago, the WB approved an emergency project boilled down to demobilization and social reintegration, as a component of the support strategy of transition and promotion of national reconciliation. On the other hand, Mr Mans talked about the relation between the WB and FAS (Angola's Fund For Social Support), which entails the increment of a number of economic and social development programmes, to be executed within the next 15 months. (Angola Press Agency, Luanda)

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