Luanda - The Board of Directors of the World Bank (WB) Tuesday in Washington (USA) approved a US$700 million Development Policy Operation (DPO) to support the Angolan government's efforts to boost financial and social inclusion and strengthen the macro-financial and institutional environment.
For greater growth led by the private sector, the DPO provides necessary funding in support of the Government's response to the Covid-19 pandemic and its socio-economic impacts, according to a WB note accessed by ANGOP.
Furthermore, the operation supports the Government's structural reform agenda, which has become even more urgent as a result of the Covid-19 pandemic, and which will create the conditions for a more robust economic recovery in the coming years.
"This DPO reaffirms the World Bank's confidence in the economic reforms underway in the country aimed at boosting the economy," said Jean-Christophe Carret, the World Bank director for Angola, cited in the document.
He added that the DPO's support focuses simultaneously on crucial macro-financial reforms and inclusion in order to ensure that the poorest and most vulnerable are protected.
The operation is organised around two pillars, each including several policy areas.
