Authors
- Disclosure Date
- 2024/07/14
- Disclosure Status
- Disclosed
- Doc Name
- Appraisal Program Information Document (PID)
- Lending Instrument
- Development Policy Lending
- Pages
- 8
- Product Line
- IBRD/IDA
- Published in
- United States of America
- Rel Proj ID
- AO-Second Green, Resilient, Inclusive Growth And Diversification D -- P179513
- Unit Owning
- EFI-AFR1-MTI-MacroFiscal-1 (EAEM1)
- Version Type
- Final
Files
Table of Contents
- The World Bank 1
- The World Bank 2
- BASIC INFORMATION 2
- A. Basic Project Data 2
- Financing US Millions 2
- Maximizing Finance for Development 2
- Is this an MFD-Enabling Project MFD-EP 2
- Is this project Private Capital Enabling PCE 2
- SUMMARY 2
- Total Financing 500.00 2
- DETAILS 2
- Total World Bank Group Financing 500.00 2
- The World Bank 3
- B. Introduction and Context 3
- 1. Angolas oil-dependent economy is highly vulnerable to fluctuations in global oil prices posing a challenge for 3
- 2. Economic diversification away from oil is needed to boost economic growth and reduce poverty. 3
- 3. The proposed operation is aligned with the World Bank Groups strategy for Angola 3
- C. Proposed Development Objectives 3
- The World Bank 4
- D. Project Description 4
- 5. The proposed series program development objective is to support the Government of Angola in promoting 4
- Pillar 1 Reducing economic distortions and strengthening fiscal and financial sector resilience 4
- Pillar 2 Boosting equity by strengthening social inclusion 4
- Pillar 3 Improving markets and infrastructures to build climate resilience. 4
- 6. The Ministry of Finance will collect and monitor information related to program implementation and progress 4
- The World Bank 5
- The World Bank 6
- G. Risks and Mitigation 8. The overall risk of the proposed operation is assessed as substantial 6
- 9. Political and Governance risks are high due to the high level of political sensitivity associated with some of the 6
- 10. Macroeconomic risks are high due to the high exposure to the oil sector 6
- 11. Fiduciary risks are High from inherent weaknesses within the countrys PFM systems 6
- 12. Sector Strategies and Policies risks are substantial due to the complexity of the proposed reforms 6
- 13. Institutional Capacity for Implementation and Sustainability risks are substantial due to the limited capacity within Angolas institutions to execute the complex reforms 6
- 14. Environmental and Social risks are substantial due to the expected impact of the proposed reforms on certain groups 6
- The World Bank 7
- 15. Stakeholder risks are substantial due to the influence of potential vested interests opposed to some of the proposed reforms 7
- CONTACT POINT 7
- World Bank 7
- BorrowerClientRecipient 7
- Republic of Angola 7
- Implementing Agencies 7
- Ministry of Finance of Angola 7
- FOR MORE INFORMATION CONTACT 7
- APPROVAL 7
- The World Bank 8
- Approved By 8
