Luanda - The representative of the World Bank in Angola and São Tomé and Príncipe, Juan Carlos Alvarez, Thursday in Luanda called for campaigns to publicize the “Diversifica Mais” project to be stepped up, in order to speed up access to funding to boost the infrastructure of the Lobito Corridor.
The project is part of the drive to speed up economic diversification and boost employment and is focused on companies located along the Lobito Corridor, specifically the link between the provinces of Benguela, Huambo, Bié and Moxico.
Diversifica Mais aims to create jobs for micro, small and medium-sized companies, worth 300 million US dollars, as well as training around 12,000 companies operating along the rail and economic corridor, which runs from the port of Lobito to the Democratic Republic of Congo and northern Zambia.
Speaking at an event called “Matabicho with the Press”, the World Bank representative stressed the importance of promoting more campaigns so that micro, small and medium-sized enterprises can find out about the project and benefit from its funding.
Juan Carlos Alvarez said that the World Bank currently has a portfolio of 20 projects of different amounts, 18 of which are strictly for Angola and another two implemented across the region.
The projects, he said, particularly in the areas of education, health, agricultural production and social protection, have an estimated overall value of 4.6 billion US dollars and that the World Bank technical team has analyzed the country's estimated 3.2% GDP growth for 2024.
“The growth forecast for 2025 is 2.8%, but that could also change. At the beginning of this year we had a forecast of 2.8%, now at the end of last month (December) it has already risen to 3.2%,” he said.
He also spoke about the visit to the country by US President Joe Biden, considering it to be a sign of confidence and a positive vote from the United States to invest more and more in Angola.
The Lobito Corridor is a strategic route for boosting the economic diversification potential of the Republic of Angola. The Benguela railway runs for 1,344 kilometers from the port of
The Lobito Corridor is internationally known as the route of the two oceans, as it connects the Atlantic and Indian Oceans by land. It is therefore the main alternative route to the export markets of countries such as Zambia and the DRC, as it offers a shorter route to the main mining regions of the two countries bordering the Indian Ocean.
The Lobito Corridor will create opportunities for the development of small businesses adjacent to rail transport and a competitive rail alternative to road transport, an assumption that makes sense for the “Diversifica Mais” Project.HM/ASS/AMP
