Angolans can join AIF USD 55 billion

Luanda, Angola

The AIF, a multidisciplinary platform of the African Development Bank (AfDB), will approve a total of 60 new projects to finance this year.

In a joint promotion with the Ministry of Economy and Planning and the Investment and Export Promotion Agency (AIPEX), the African Development Bank (AfDB) promoted national and foreign entrepreneurs from various branches operating in the country.

In 2018, the Africa Investment Forum, which brought together representatives of 53 countries, including Angola, put in negotiations USD 38.7 billion, with the approval of 49 multi-sector projects.

Angola, in the first edition, has 29 participants and three were approved in the global amount of USD 488 million.

In relation to the 2019 edition, according to the National Director for Economy, Competitiveness and Innovation, Marcelino Pinto, the private sector is expected to be supported in the AIF as a financing platform, which through the AfDB involves other international financial institutions such as Sovereign and pension funds, which seek to reduce and share risks, to leverage investment.

Infrastructure requirements for Africa’s development continue to grow, estimated by the AfDB, at between USD 130-170 billion a year.