World Bank plans to open office in Angola soon to finance tourism

Recently, World Bank announced that it is ready to increase its financing to Angola's private sector during the period 2020-2025 to boost the South African country's economic diversification.

Now the World Bank, international financial institution, has taken a decision to unveil an office in Angola’s capital, Luanda in September. The intention to open a new office is to financing private investments in the tourism sector, according to Olivier Jacques Lambert, the institution’s representative in Angola.

Speaking at the World Tourism Forum, which is happening in the Angolan capital since last Thursday, Olivier Jacques Lambert said that the projects will be financed according to their quality and dimension.

He went on to say that besides grating credit, the WB will monitor the implementation of investment projects.

He stressed that the improvement of business environment and the introduction of measures intended to increase the trust of investors are part of the support the WB has provided to Angola.

Olivier Jacques Lambert deemed tourism a source for growth and diversification of the economy.

With inputs from agencies.

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