The African Development Bank (AfDB) has made available USD 200 million for investments in agricultural value chains in the eastern region of the Lobito Corridor.
The AfDB representative in Angola, Pietro Toigo, stated that the amount is part of the bank’s investment portfolio for this year and includes other sectors of the economy.
AfDB Vice President, Solomon Quaynor, confirmed support for the Lobito Corridor in two key areas: its connection with Zambia and strengthening investments in infrastructure.
The visit aimed to assess Angola’s economic diversification and adjust support for the private sector, transport infrastructure, and the financial sector.
The AfDB reviewed support for agribusiness, private sector participation in infrastructure financing, and the development of a financial sector that serves small and medium-sized enterprises.
During the visit, Solomon Quaynor met with the Minister of Planning, Victor Hugo Guilherme, the Minister of Transport, Ricardo d’Abreu, and the President of AIPEX, Arlindo Chagas Rangel.
He also held discussions with representatives of the private sector, financial institutions, agro-industrial associations, industrialists, and the Chamber of Commerce for Oil, Gas, and Mining.
The mission concludes with a press conference featuring Quaynor and Victor Hugo Guilherme.
Since 1980, the AfDB has approved USD 3.36 billion in loans and grants for Angola.
The bank’s portfolio includes 16 operations, totaling USD 1.45 billion, distributed across the following sectors: Energy (36.47%), Finance (20.15%), Agriculture (14.19%), Water and Sanitation (17.08%), Social (11.63%), Environment (0.3%), and Transport (0.17%).
Mercado, 03/07/2025
