AfDB Executive Directors Visit Angola
A 14-member delegation of the Board of Directors of the African Development Bank (AfDB) Group will undertake a consultation mission in Angola from 28 February to 5 March 2011.
This annual mission is part of a review programme to the Bank Group’s regional member by the Board of Directors. The delegation will have the opportunity to exchange views with public authorities and development partners on development cooperation issues with Angola.
The delegation will also visit three key AfDB-supported projects, namely: the Artisanal Fisheries Development project, the Basic Education project, and the Sumbe Water Supply, Sanitation and Institutional Support project, situated respectively within the SUMBE and PORTO AMBOIM vicinity, in Kwanza Sul province.
The AfDB’ ongoing portfolio in Angola comprises eight operations with a total value of Units of Accounts (UA) 74.01 million, equivalent to USD 115.44 million. The portfolio’s distribution by sector is as follows: agriculture, rural development and environment (49%), social, including health and education (27%); water and sanitation (16%); and multi-sector (8%). To-date, the Bank Group’s cumulative assistance to Angola amounts to UA 316 million, which is equivalent to USD 487 million.
The Bank Group has just finalized a new Country Strategy Paper (2011-2015) for Angola (February 2011). The new strategy is aligned to the government’s national development strategy and priorities, focusing on economic diversification, through non-oil private sector-led growth, and marks the beginning of non-concessional financing to operations in Angola. The main strategic pillars are: (i) Stimulus to the competitiveness of the economy; and (ii) Support to economic infrastructure development. These pillars are also flexible enough to allow for adjustments with the evolving market changes and the government’s new priorities.
Angola falls within the member-countries of the Bank Group that constitute the second Constituency for the Southern Africa sub-region; namely, Mozambique, Namibia and Zimbabwe. The Constituency is represented at the AfDB Board of Directors by Mr. Tombwele Mampuya Francisco Pedro as Executive Director, and Mr. Mahomed Rafique Jusob Mahomed as Alternate Executive Director. The Southern Africa sub-region as a whole consists of three constituencies i.e. three seats on the Bank Group’s Board of Directors, represented by the Chairs of Angola, Mauritius, and South Africa, respectively.