The World Bank’s financial footprint in Angola has crossed the $5 billion mark, marking a significant milestone in the institution’s long-term commitment to the country’s development.
The announcement was made on Wednesday by Axel van Trotsenburg, the World Bank’s Senior Managing Director, following his meeting with Angolan President João Lourenço at the Presidential Palace in Luanda.
Since 2022, the World Bank’s project portfolio in Angola has grown by approximately $1.2 billion annually, underscoring an expanding partnership aimed at tackling some of Angola’s most pressing economic and social challenges.
“We reiterate our commitment, not only through investment, but also through analytical work, technical assistance, and support for the private sector,” said Van Trotsenburg after the meeting.
The senior World Bank official presented an overview of ongoing and future projects supported by the Bank in Angola. He praised the quality of cooperation between the two sides, describing it as both “strong and strategic,” and expressed appreciation for Angola’s recognition of the World Bank as a central partner in its national development agenda.
Van Trotsenburg also visited the BITA project — a major infrastructure and water initiative supported by World Bank guarantees — and commended the progress being made.
The project is seen as a cornerstone of efforts to improve public utilities and quality of life in Angola’s urban and peri-urban communities.
On the same day, President Lourenço also held a closed-door meeting with Ahmed Elassar, President of the Egyptian construction giant Arab Contractors. No statements were issued following that meeting.
Angola’s relationship with global financial institutions has gained momentum in recent years, as the government seeks to diversify its economy and attract investment beyond the oil sector.
The World Bank’s deepening involvement is expected to further accelerate infrastructure, education, and private sector growth initiatives across the country.
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