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Finance Minister: Continue to invest in fossil energy

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On December 16, Angolan media reported. The Minister of Finance of Angola, Vera Daves, spoke at the 60th anniversary meeting of the African Business Unit of the International Monetary Fund (IMF). All investment in energy, but will use the income generated by investment in fossil energy to transform to green energy.


The Finance Minister said that what needs to be explained to the international community is that Angola will continue to invest in fossil energy and will also provide funds for the green energy transition. When talking about whether Angola has received support from the international community to provide funding for the green energy transition, the Finance Minister said that Angola can jointly build green energy projects with the private sector. The field attracts private direct investment, which is also part of the relevant cooperation commitments between Angola and the World Bank. Angola is cooperating with the World Bank to solve drought problems in water supply and agriculture, especially the drought in southern Angola. The two sides cooperate to make agriculture more adaptable to climate change. Climate change is closely related to fossil energy.


The Finance Minister also emphasized that it is now necessary for Angola to start a green energy transition. It needs to know the medium-term goals. Hydropower and solar power are the priorities of Angola's new energy policy. Angola seeks public or private investment into the hydropower and solar power industries.