Angola and World Bank’s IFC Align Strategies on Lobito Corridor and Private Sector Growth
Projects under the Lobito Corridor master plan and Angola’s broader economic diversification agenda dominated a high-level interministerial round table held on Thursday in Luanda between members of the Angolan government and the International Finance Corporation (IFC), part of the World Bank Group.
The closed-door meeting took place during the official visit of IFC Managing Director Makhtar Diop to Angola. Discussions also focused on key productive sectors, including agriculture and tourism, with the aim of aligning strategies to accelerate priority initiatives being implemented by the government in partnership with the IFC, according to Minister of Transport Ricardo de Abreu.
Speaking to ANGOP after the meeting, De Abreu said the talks also addressed support for Angola’s private sector, particularly businesses operating along the Lobito Corridor, a strategic logistics and trade route linking Angola to regional and international markets.
Participants also reviewed challenges related to electricity distribution and explored how IFC support could help accelerate agricultural development, with food security identified as a key priority.
According to the minister, the IFC reaffirmed its commitment to supporting Angola and helping the country achieve its development objectives.
In addition to the round table, Makhtar Diop was received on Thursday by President João Lourenço. The IFC managing director has been in Angola since Tuesday, focusing on identifying investment opportunities in agribusiness, industrialisation, and real estate as part of efforts to support the diversification of the Angolan economy.
On Friday, Diop is scheduled to travel to Benguela Province to gain firsthand insight into the Lobito Corridor and visit operations of the Carrinho business group.
The IFC, a member of the World Bank Group, is the world’s largest global development institution dedicated to the private sector in emerging markets.
It operates in more than 100 countries, mobilising capital, technical expertise, and advisory services to create markets and expand opportunities in developing economies.
In the 2025 fiscal year, the IFC committed a record USD 71.7 billion to private companies and financial institutions in developing countries, leveraging private sector-led solutions and mobilising private capital to support sustainable development and poverty reduction.
