WASHINGTON, March 25, 2022—The World Bank Board of Executive Directors approved two loans for a total of $560 million to support key fiscal policy reforms and strengthen statistical capacity in Angola. The Development Policy Operation (DPO) in the amount of $500 million, the third in a series of three, will continue supporting the government to achieve more sustainable and inclusive growth through a macro-financial and institutional environment that is conducive to private sector led growth.
The DPO supports the Government of Angola in undertaking key reforms aimed at building stronger foundations for economic diversification, job creation, resilience to climate and economic shocks, and poverty reduction. This operation aims to achieve better outcomes in fiscal policy including relieving fiscal pressures from state owned enterprises, achieving financial sector stability, increasing private sector participation, and improving protection measures and livelihoods for the poor.
The Angola Strengthening Statistical Capacity Project in the amount of $60 million, is aimed at improving the country’s statistical capacity, its ability to produce data efficiently, data production, and its use of data for public program monitoring.
While Angola’s statistical capacity has increased over the past five years according to the World Bank statistical performance indicators (SPI), its score is still lower than the average for Lower-Middle Income Countries (54.9 out of 100 in 2019 for Angola compared to 56.7 for Lower Middle-Income Countries). The project will have three main components: institutional reform and statistical capacity, data production, project management and monitoring and evaluation.
“The approval of these two operations reaffirms the World Bank's commitment to supporting reforms in Angola, and to strengthening the country's institutions. Sustainable development can only be achieved through strong and effective institutions,” said Jean-Christophe Carret, World Bank Country Director for Angola.
