Accelerating Job creation and Economic Transformation (WB-P178035)

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
A
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
Dec 15, 2022
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)
$ 300.00 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)
$ 300.00 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 Jun 29, 2022

Disclosed by Bank Nov 10, 2021

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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 project objective is to increase private investment and growth of small and medium enterprises in selected economic corridors.

The proposed project will be structured in four interrelated components:

  1. Enabling environment for trade and investment: this component will strengthen the regulatory and institutional environment for private investment and trade by supporting regulatory reforms, capacity building and selected investments in government systems, small works, and equipment;

  2. Catalytic investments in productive infrastructure: this component will support improvements in productive infrastructure (e.g. industrial infrastructure, storage, logistics centers) and quality infrastructure (e.g. labs and certification centers) in economic hubs for the corridors of focus, where private sector demand is confirmed. It will seek to promote private sector participation to ensure a sustainable business model and potentially mobilize private investment through public private partnerships;

  3. Supporting firm growth: this component will support interventions in the supply and demand sides of access to finance, and business development services to improve firm growth, productivity and market access for MSMEs in the project corridors, with special attention to addressing the specific constraints of women-owned MSMEs;

  4. Project Management and M&E will provide the necessary technical and financial support for the implementation of the project and results measurement.

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:
Zenaida Hernandez Uriz, Mazen Bouri
Senior Private Sector Specialist

Borrower:
Ministry of Finance

Implementing Agency:
Ministry of Economy and Planning
Joffrana Dynamene Xavier de Oliveira
Director of Economy
joffrana.xavier@mep.gov.ao 

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission 

ACCOUNTABILITY MECHANISM OF THE 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. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint 

How it works

How it works