Luanda - The deputy-chair for Africa of the International Finance Corporation (IFC), Sérgio Pimenta, stated on Monday, in Luanda, that his institution will continue to work with Angolan banks to adopt best environmental practices in financing socioeconomic projects in Angola.
Speaking to ANGOP, at the end of a round table on the social and environmental governance of projects financed by national institutions, Sérgio Pimenta assured that IFC's support essentially involves promoting staff training and experience exchange actions, to create a healthy environment.
On the occasion, the source recognized that the Angolan banking sector is extremely committed to improving environmental and social issues.
Sérgio Pimenta considered the implementation of sustainable projects as one of the key factors that help protect the environment.
In turn, the head of the Angolan Banking Association (ABANC), Mário Nascimento, pointed to the regulation approved by the Angola Central Bank (BNA), which requires banks to assess the environmental impact of financed projects.
He also added that the issue of Environmental and Social Governance (ESG) also includes financial inclusion, training, technical assistance and assesses the social impact of economic activity and banks' intervention on their customers and communities.
Regarding the implementation of ESG in Angola, Mário Nascimento recognized that this process is still embryonic in the country.
The round table on ESG aimed to analyze the environmental and social impact of projects financed by commercial banks, as well as outline strategies to improve fewer good issues.
IFC is one of the World Bank's financial institutions focused on the private sector in emerging markets. Present in more than 100 countries, to support the creation of markets and opportunities in developing countries, promoting the improvement of people's lives.
In 2022 fiscal year, IFC invested a record $32.8 billion in private companies and financial institutions in developing countries, boosting the private sector's power to fight against extreme poverty and boost shared prosperity as economies struggle with the impacts of worsening global crises.
In the last 5 years, IFC has disbursed around US$500 million in Angola, amounts invested essentially in the health, education and financial areas.
ABANC - Angolan Banking Association is the entity that represents the sector, bringing together 23 banks. QCB/CF/DOJ
