World Bank reportedly giving Angola US$70 mln for development

Representatives of the World Bank and Angola have signed an agreement that will provide Angola with US$70 million to be spent on development projects, Angop reports.

The Angolan state news agency says Angolan Finance Minister Archer Mangueira and World Bank representative Olivier Godron signed the agreement.

The report says the Angolan Social Support Fund and the Ministry of Land Administration and State Reform will spend some of the money over three years on social infrastructure such as hospitals, other medical facilities, and quarters for nurses and teachers.

The money may also supplement private investment in agriculture and commerce, and be spent on community health and development personnel, Angop says.