The European Union provided 20 million euros to support the Informal Economy Conversion Program in Angola.
The agreement signed this Monday is part of the plan to respond to the effects of the Covid-19 pandemic on the country s economy.
According to the Angolan Minister of Economy and Planning Sérgio Santos, this funding will be applied to initiatives already registered in the State Budget, which is expected to start in January 2021. These are two measures, on the one hand to reduce the bureaucratic burden in the recognition, registration and licensing of economic activities, but on the other hand we have to act in order to get these informal operators to recognize that their self-employment or their entrepreneurial initiative can be better carried out within a framework of stability and formality, Sérgio Santos - Angolan Minister of Economy and Planning said.