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Accelerating Economic Diversification and Job Creation Project

Abstract*

The development objective of the Accelerating Economic Diversification and Job Creation Project for Angola is to increase private investment and climate resilient growth of micro, small and medium enterprises in non-oil value chains, particularly in the Lobito corridor. The project comprises of four components. The first component, enabling environment for trade, finance, and investment will strengthen the regulatory and institutional environment...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To increase private investment and climate resilient growth of micro, small and medium enterprises in non-oil value chains, particularly in the Lobito corridor

Key Details

Project Details

  • P178035

  • Active

  • Sunita Varada , Ruben Barreto

  • Republic of Angola

  • Angola

  • June 10, 2022

  • (as of board presentation)

    May 31, 2023

  • January 10, 2024

  • US$ 300.00 million

  • Ministry of Economy and Planning

  • Eastern and Southern Africa

  • 2023

  • US$ 300.00 million

  • N/A

  • February 7, 2024

  • December 31, 2029

  • Yes

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 300.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 300.00
IDA Commitment N/A
IBRD + IDA Commitment 300.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 300.00

Summary Status of World Bank Financing (US$ Millions) as of January 31, 2025

Download:
No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of January 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
May 31, 2023 IBRD-95270 Loan Commitment 300,000,000.00
May 15, 2024 IBRD-95270 Int Charges 2,789.99
Jun 5, 2024 IBRD-95270 Loan Disb -100,980.00
May 15, 2024 IBRD-95270 Int Charges 42,197.05
May 15, 2024 IBRD-95270 Int Charges 537,336.30
Jun 5, 2024 IBRD-95270 Loan Disb 100,980.00
Jun 3, 2024 IBRD-95270 Loan Disb 48,000,000.00
Jun 20, 2024 IBRD-95270 Loan Disb 100,980.00
Mar 4, 2024 IBRD-95270 Loan Disb 1,903,250.00
Jan 10, 2024 IBRD-95270 Fee Charges 750,000.00
Jan 10, 2024 IBRD-95270 Loan Disb 750,000.00
May 23, 2024 IBRD-95270 Loan Disb 3,706,580.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Procurement Moderately Satisfactory 2024-11-29
Project Management Satisfactory 2024-11-29
Financial Management Moderately Satisfactory 2024-11-29
Progress towards achievement of PDO Satisfactory 2024-11-29
Monitoring and Evaluation Satisfactory 2024-11-29
Overall Implementation Progress (IP) Satisfactory 2024-11-29

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Change in revenue growth by beneficiary firmsValue0.000.0025.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Value of private sector investment leveraged by direct project activitiesValue0.000.00400000000.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Value of private sector investment leveraged by direct project activities in the Lobito corridorValue0.000.00120000000.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Change in revenue growth by beneficiary women-owned/led firmsValue0.000.000.00
    Date
    Comment
  • Climate mitigation and adaptation investments facilitated by the projectValue0.000.0070000000.00
    DateMarch 31, 2023October 3, 2023June 30, 2029
    Comment
  • Value of privately financed loans facilitated by the credit guarantee schemeValue0.000.000.00
    Date
    Comment
  • Beneficiaries of job-focused interventionsValue0.000.0024000.00
    DateJune 30, 2023October 3, 2023December 31, 2029
    Comment
  • Beneficiaries of job-focused interventions - FemaleValue0.000.000.00
    Date
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Non-performing loans guaranteed under the Project (percentage)Value00
    Date
    Comment
  • Loans to businesses facilitated by the ProjectValue0.000.00375.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Loans to women-owned/led businessesValue0.000.00115.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Firms that completed the capabilities and technology adoption diagnosticValue0.000.0010000.00
    DateJune 30, 2023October 3, 2023December 31, 2029
    Comment
  • Reduction in the time required for the release and/or clearance of goodsValue0.000.0020.00
    DateJanuary 1, 2024October 3, 2023December 31, 2029
    Comment
  • Project preparation fund established and capitalizedValueNoNoYes
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Percentage of grievances that received a responseValue0.000.00100.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Automation tools for international trade implemented and functionalValueNoNoYes
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Tenders for productive infrastructure awardedValue0.000.003.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Civil servants benefiting from direct interventions to enhance their capacityValue0.000.00225.00
    DateJune 30, 2023October 3, 2023December 31, 2029
    Comment
  • of which, women-owned/led firmsValue0.000.005000.00
    DateJune 30, 2023October 3, 2023December 31, 2029
    Comment
  • Firms provided with advice to strengthen managerial capabilities and technology adoptionValue0.000.002000.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Implemented reforms supporting private sector developmentValue0.000.005.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Investments in productive infrastructure that apply climate adaptation or mitigation standardsValue0.000.0060000000.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Firms benefiting from private sector initiativesValue0.000.0012000.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • of which women-owned/ledValue0.000.001000.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Firms receiving proof-of-concept grants for technology adoptionValue0.000.00100.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • of which women-owned/ledValue0.000.0035.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Increase in the aggregate Firm-level Technology Adoption Index for beneficiary firmsValue0.000.0015.00
    DateJanuary 1, 2023October 3, 2023December 31, 2029
    Comment
  • Volume of guarantees issued under the ProjectValue0.000.00180000000.00
    DateDecember 31, 2022October 3, 2023June 30, 2029
    Comment