World Bank helps in economic management

The Angolan government and the World Bank (WB) have signed a US $16.6 million credit agreement for an Economic Management Technical Assistance (EMTA) project which includes programmes to assist the government in managing public expenditure and improve the management of oil and tax revenues. The project, running until 2007, will focus on the Ministries of Finance and Planning, and the Banco Nacional de Angola. It forms part of the World Bank's Transitional Support Strategy (TSS) for post-war Angola. Spokeswoman Lisa Maier told IRIN on Thursday that the credit will assist the Central Bank in improving the efficiency of a modern payments system and strengthen government's ability to design, monitor and audit an adequate public investment programme. It will also be used for poverty analysis and the establishment of a transparent and efficient public finance framework. Implementation will start on 15 June. Angola's TSS includes an emergency demobilization and reintegration project to support government efforts in the transition of about 120,000 ex-combatants to civilian life, the EMTA, support of the Social Action Fund, and an HIV/AIDS project for supporting the work of the newly-appointed National AIDS Committee. More details: www.worldbank.org