Luanda: The International Finance Corporation (IFC) is set to significantly expand its financing portfolio in Angola, aiming to enhance basic infrastructure and stimulate the national private sector. This announcement was made by the Secretary of State for Public Investment, Ivan dos Santos, following a meeting between the Angolan Government’s economic team and IFC’s director general, Makhtar Diop, who is on a four-day working visit to Angola.
According to Angola Press News Agency, the expansion plan is a result of the positive feedback expressed by Makhtar Diop regarding Angola’s economic progress and structural development in recent years. This confidence is expected to provide the IFC, a member of the World Bank Group, with the flexibility to offer traditional financing solutions and risk-reducing instruments like guarantees to potential investors in Angola.
The IFC has shown a keen interest in investing in key infrastructure projects, particularly the Lobito Corridor and other strategic corridors such as the South and North, which will connect Porto do Caio in Cabinda to neighboring northern countries. Ivan dos Santos highlighted that the IFC’s current financing portfolio in Angola stands at US$198 million, with plans to increase it to as much as US$600 million to support the private sector.
The expansion will prioritize sectors like agriculture, crucial for Angola’s food security, as well as energy, tourism, and other value chain processes. Identifying capable entrepreneurs to partner with the IFC will involve leveraging existing structures, with entities like Refriango already benefiting from the available financial lines.
The meeting with the IFC’s general director was chaired by Jos© de Lima Massano, Minister of State for Economic Coordination, alongside other key ministers, including Victor Hugo Guilherme for Planning, Vera Daves for Finance, and Isaac dos Anjos for Agriculture. Makhtar Diop’s visit also includes high-level discussions and a trip to Benguela province to explore the Lobito Corridor and engage with the Carrinho Group.
IFC, as the largest global development institution dedicated to the private sector in emerging markets, operates in over 100 countries, leveraging capital, technical expertise, and influence to foster market creation and opportunities. In fiscal 2025, the IFC committed a record $71.7 billion to private firms and financial institutions in developing nations, focusing on solutions led by the private sector and mobilizing capital to foster sustainable development and poverty reduction.