Luanda - The vice-president of the International Finance Corporation (IFC) of the World Bank for Africa, Sérgio Pimenta, expressed, this Monday, the institution's continued support for the Angolan Government to attract greater private investment, prioritizing the agricultural, transport, communications and energy
According to Sérgio Pimenta, the IFC supports the development of the private sector, with an office in Angola, since 2019, having disbursed, over a period of five years, more than 500 million dollars in financing, so the institution is seeing how can do more, particularly on long-term operations.
The IFC representative spoke to the press after a meeting with the Minister of Planning, Víctor Guilherme, in his role as governor of the World Bank, for Angola, having highlighted that, in addition to attracting investment with companies abroad, he intends to develop investment from national companies in Angola.
He considered that the private sector has a very important role to play in completing the work of the public, contributing to the country's development.
Regarding the meeting with the minister, he made it known that aspects linked to the round table on public-private partnerships, taking place on Tuesday, in Luanda, were being discussed, an event that will make it possible to explain in more detail the support that the IFC can bring to this process.
He added that the occasion also served to analyze issues relating to food security, energy, infrastructure, transport, as well as access to finance for companies.
Among the areas that benefited from financing, he pointed out health, financial institutions and the international trade sector, “in which we finance, in the short term, import and export of products that are necessary for the Angolan economy”.
IFC data indicate that the committed investment portfolio in Angola is currently 68.5 million dollars (equivalent to 60.93 billion kwanzas), with a focus on the manufacturing industry, agro-business and increasing the availability of financial services in the country, particularly for small businesses.
IFC's private sector technical assistance portfolio is worth USD 5.4 million across four projects.
IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries, using its capital, experience and influence to create markets and opportunities in developing states.
In fiscal year 2024, IFC committed a record USD 56 billion to private companies and financial institutions in developing countries, leveraging sector solutions and mobilizing private capital to create a poverty-free world. HM/VC
