AfDB to provide US$160 million for agricultural development in Angola

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livestock

The African Development Bank (AfDB) will provide 160 million U.S. dollars in budgetary support to enhance grain production, livestock, and fisheries in Angola, the Angolan Ministry of Economy and Planning (MEP) said on Monday.

According to the MEP’s statement, the initial installment of 100 million U.S. dollars may be disbursed later this year, with the remaining 60 million expected to be released in 2024.

In addition to the financial support initiative, the meeting between the MEP and the AfDB, held on Monday in the Angolan capital of Luanda, also addressed the National Institute of Support for Micro, Small, and Medium Enterprises in Angola and the country’s Informal Economy Conversion Program, said the statement.

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