Second Angola Growth and Inclusion Development Policy Financing Operation (WB-P168336)

Countries
  • Angola
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 9, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Angola
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 10, 2020

Disclosed by Bank Jan 2, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the proposed operation supports the Government of Angola (GoA) to maintain macroeconomic stability and to lay the
foundations for private sector-led economic diversification to create a more inclusive growth model. 

This operation is the second Development Policy Financing (DPF) in a series of three. The operation is organized around two pillars, each including several policy areas. DPF2 maintains the same pillars and policy areas as DPF1:

  • Pillar 1: Strengthening the macro-financial and institutional environment. Policy areas are: strengthening debt and natural resource management for fiscal sustainability (1.1); strengthening financial sector resilience (1.2); strengthening management and commercial viability of SOEs (1.3); supporting pricing and subsidy reform for financial sustainability and effective service provision (1.4); and leveling the playing field for private investment (1.5).
  • Pillar 2: Protecting the poor and vulnerable. Policy areas are: protecting the poor and vulnerable from shocks (2.1); and increasing access to finance (2.2).
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank:
Rafael Chelles Barroso, Mazen Bouri
Senior Economist

Borrower:
Ministry of Finance
Osvaldo João
Secretário de Estado
osvaldo.joao@minfin.gov.ao

Implementing Agency:
Ministry of Finance
Osvaldo João
Secretário de Estado
osvaldo.joao@minfin.gov.ao 

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.

How it works

How it works