In support of the Government of Angola’s efforts to reform the power sector, the African Development Bank (AfDB) has approved a US$1bn loan for the Angola Power Sector Reform Support Program. The Angola Power Sector Reform Support Program has three components: restructuring the energy sector and improving its regulatory environment; fostering private sector investment in the energy sector; and enhancing transparency and efficiency in public financial management. The overarching objective of the energy sector budget support program is to promote inclusive economic growth by improving operational and cost efficiency in the sector and consolidating public financial management reforms.
Angola’s current Energy and Water Action Plan requires US$23bn between 2013 and 2017. To implement the reforms in the power sector, the Government has launched the Electricity Sector Transformation Program with a clear roadmap to set up a new electricity market structure, improve electricity sector operational efficiency, competitiveness and sustainability and strengthen transparency and efficiency of public finance.