Angola - Public Debt and Procurement Technical Assistance Project (PDM-TAP)


Project Summary

Approval Date 11 Nov 2021
Signature Date 14 Apr 2022
Planned Completion Date 29 Feb 2024
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15124
Environmental Category 3
Commitment U.A 120,000
Status Implementation

Project General Description

The Public Debt Management Technical Assistance Project (PDM-TAP) is part of the Bank’s multi-pronged approach to increase debt management capacity in Angola and has been designed to be complementary with support from other development partners. PDM-TAP operation is a critical part of this comprehensive approach by supporting the strengthening of human resources capacity for sustainable debt management. The project responds to a high-priority Government request for support to the Debt Management Unit (UGD). It will enhance the capacity of the Debt Management Unit (UGD) to better balance the government's financing needs and its payment obligations over the medium to long run, consistent with a prudent degree of risk. The project will impact positively on Angola’s ongoing efforts to attain fiscal consolidation and enhance macroeconomic stability. The technical assistance will comprise one main component, (i) strengthening human resources capacity for transparent, accountable, and effective debt management, as well as a component to (ii) support project implementation. The estimated total project cost is UA 132,000 of which the Bank will provide UA 120,000 excluding taxes and duties to be funded under the Middle-Income Countries Technical Assistance Fund (MIC TAF). The project will be implemented over a period of 24 months, and the Closing Date shall be November 31st, 2023.

Project Objectives

The goal of the project is to assist in enhancing the existing public debt management capacity of the UGD team for transparent, accountable, and effective management of public debt and borrowing. The specific objective is to support the Government of Angola (GoA) to better manage the level and composition of national public debt, sovereign guarantees, and other financial obligations of the national Government within the fiscal consolidation framework through strengthened human resources capacity at the UGD. The project seeks to further enhance the capacity of the Ministry of Finance to better balance the Government's financing needs and its payment obligations in the medium to long run, consistent with cautious degrees of risk. Reducing vulnerabilities to risks of public debt and maintaining debt within sustainable levels is critical for Government’s efforts to attain fiscal consolidation in order to safeguard macroeconomic stability and reduce the pace of growth of the public debt.

Beneficiaries

The main beneficiaries of the project are the Debt Management Unit (UGD) and the Government of Angola (GoA) though its Ministry of Finance.

Participating Organization

Funding
Middle Income Countries Fund
Implementing
GOUVERNEMENT DE LA REPUBLIQUE D ANGOLA MINISTERE DES FINANCES

Information

IATI identifier 46002-P-AO-KF0-004
Last Update 03 Oct 2022

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Contact Details

Name RETANA DE LA PEZA Jorge
Email j.delapeza@afdb.org

Geographic Location

Country Angola
Coordinates Location Name
-8.91667 13.33924 Luanda