The Angolan government will acquire 1.032 shares from the International Bank for Reconstruction and Development.
This participation, amounting to USD 5,4 million, will provide Angola with better advantages in order to benefit from the World Bank group financing and the transaction is scheduled be completed by March 2016.
According to the associated presidential decree, Angola’s National Development Plan establishes that the country “should consolidate its relationships with the international financial institutions, such as the World Bank”, “With political measures that promote the increase in volume and improve financial conditions to the key structuring projects in Angola’s economy”.
Signed by president José Eduardo dos Santos, the decree states that the decision to increase the participation on IBRD’s capital by the developing countries has opened an opportunity for an additional 1.032 shares.
With headquarters in Washington, USA, the World Bank group has several financial institutions created in order to promote economic growth and cooperation at a global scale, one of which the International Bank for Reconstruction and Development. (Source: Agência Lusa).