Angola - Economic Diversification Support Program (EDSP)

The Economic Diversification Support Program (EDSP) is designed as a programmatic series of three consecutiAve General Budget Support operations covering the fiscal years 2019-2021, for a total indicative financing of USD 700 million. This is the second program-based operation in Angola. The operation is designed in response to a request submitted by the country's authorities in March 2019. The proposed operation will support the Government’s efforts in addressing the country’s development challenges through structural, regulatory and governance reforms. The program is articulated around three strategic and mutually reinforcing components: (i) Fiscal consolidation through Improved PFM and Tax Administration Reforms; and (ii) Enhanced implementation of the economic diversification program; and (iii) Improved Governance in Natural Resource Management and State-Owned Enterprise Reform. These reforms will help improve efficiency of public investment and create an enabling business environment for private sector development, promote exports and economic diversification, and improve public investment and PFM.