Angola - Institutional Capacity Building for Private Sector Development Project

The Institutional Capacity Building for Private Sector Development Project (ICBPSDP) aims to contribute to diversification of the Angolan economy. Despite strong economic growth over the past 10 years, Angola’s economy is heavily dependent on the oil sector. Furthermore, on the social front, the country suffers from high unemployment, which affects 26 % of the active population. The incidence of poverty remains high with about 36.6% of the population living below the poverty line. Against this backdrop, the Government of Angola has set the objective of promoting human development, improving the quality of life and combating extreme poverty through diversification of the economy and employment. In order to diversify its economy, the Government has undertaken various initiatives to foster private sector development under the 2013-2017 National Development Plan. The 4-year project for an amount of USD 27.64 million aims to contribute to the country’s private sector development efforts. Its objective is to build the institutional capacity of public services, which provide support to private sector development, and to train their personnel. The project will also contribute to the establishment of a monitoring and evaluation system for assessing the actual impact of these private sector support initiatives and enhancing their effectiveness.