The amount results from a financial agreement signed Thursday in Luanda by Finance Minister Archer Mangueira, the chairman of Credit Guaranty Fund João Júlio, and WB representative in Angola and Sao Tome and Principe Oliver Lambert.

Addressing the ceremony, the Angolan Finance minister Archer Mangueira said that the two agreements will greatly contributed to diversification of the country's economy, under the National Development Plan (PDN)/2018-2022.

He explained that the commercial agriculture project is part of a broad programme that include the USD 100 million funding from the French Development Agency.

In turn, the WB official mentioned USD 150 million additional funding for water supply service for nine cities of the country, namely Lubango, Ndalatando, Dundo, Luena, Moçamedes, Kuito , Huambo, Malange and Uíge.

As for PDISA2, he said that it will benefit about 1.2 million people in these nine cities, with public water connection services.

On the other hand, he spoke of USD 130 million Commercial Agriculture Development Project to increased productivity and market access for eligible beneficiaries along two established road corridors.

The two corridors are (A) Luanda-Bengo-Cuanza Norte-Malange and (B) Luanda-Bengo-Cuanza-Sul-Huambo-Norte da Huila).

They link the main agricultural area of ​​the central highland to the most important urban markets of Luanda.

Approved by Presidential Decree No. 81/18 of 13 July, the Agriculture project is worth EUR 105.5 million, equivalent to USD 130 million to be financed by the World Bank.

Additional funding for the PDISA II Water Sector Institutional, approved by Presidential Decree No. 82/18 of 13 July, stands at EUR 150 million, the World Bank component.

Source: Angop