Luanda - The World Bank representative in Angola, Juan Carlos Alvarez on Tuesday in Luanda, highlighted Angola’s macroeconomic stability, as a result of the reforms implemented by the government.
Speaking at a meeting with journalists, the representative, who has been in Angola for two years, stressed the country is moving in the right direction, although there are still "things that need to be done".
"It still has to implement some reforms in order to achieve sustainable inclusive growth in the medium term. We believe that the reforms being implemented are aimed at creating a favorable environment for the country's economic and social development," Alvarez said.
The World Bank official spoke of the existing stable relationship with the Angolan government, and that a policy dialogue has taken place in which they identified areas that needed reform, with the aim to create a favorable environment to develop economic diversification and the private sector, as well as to attract private investment.
According to Juan Alvarez, it is necessary to strengthen the development of human capital, health, education and social protection, while greater investment in these sectors is essential.
The World Bank Group supports Angola's efforts to reduce poverty and promote economic growth, working together with the government, development partners and civil society.
During the meeting with journalists on Tuesday, Juan Alvarez presented the World Bank's portfolio of projects in Angola. He said that the institution has 17 projects, with overall funding of 3.6 billion US dollars and that the implementation period is from 2017 to 2029. HM/VC/TED/AMP
