Luanda, February 2, 2018
– Jingdong Hua, IFC’s Vice President and Treasurer, completed a working visit to Angola where he outlined IFC’s continued engagement and support for efforts to diversify the Angolan economy, and create opportunities for sustainable private sector-led growth and capital markets development.
During his stay, Vice President Hua met with members of Cabinet: State Minister for Economic and Social Development Manuel Jose Nunes Junior, Finance Minister Augusto Archer Mangueira and Economy and Planning Minister Pedro Luis da Fonseca. He also met Banco Nacional de Angola, CMC (Stock Market commission) and BODIVA (the Angolan stock exchange), development partners, and representatives of the finance and business sectors. Vice President Hua met with Microfinance Institutions to discuss how digital finance can be a game-changer for inclusive development in Angola and across Africa. In meeting with university students, he shared his experience and stressed the critical role of good education in improving human lives and boosting shared prosperity.
“IFC brings a unique experience and track record in creating capital markets in more than 100 emerging economies,” said Vice President Hua. “We offer a range of innovative products to crowd in private sector financing. Creating the right environment for entrepreneurship and sustainable investment, especially for women in business, can help maximize Angola’s potential beyond the oil sector in line with the diversification agenda set by the government. This can have a wide-ranging impact including in agribusiness and renewable energy and help reduce the infrastructure financing gap.”
IFC has been engaging in Angola since 1997, focusing on the financial sector and manufacturing. Its investment portfolio in the country is $34 million.
IFC - a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit