Africa-Press – Angola. The Agrarian Development Support Fund (FADA) has applied more than two billion kwanzas so far to finance 164 agricultural projects across the country.
This information was recently provided , in the municipality of Nharea, province of Bié, by the executive director of FADA, Manuel Pedro.
In that province, for example, the fund has so far financed 33 projects, valued at 480 million kwanzas.
Manuel Pedro also assured that the reimbursement process will begin in 2023. Ten million kwanzas is the amount that each cooperative can receive. Despite not revealing the number of projects awaiting funding, the official said that family farming operators, small grouped farmers and others can also join the credit.
The FADA projects, started in the 2020/2021 agricultural season for the entire country, are linked to family agricultural production and have a total amount of 15 billion kwanzas, whose financing is repayable for a period of one to five years, at a three percent interest rate.
The value of the financing is mainly intended to finance goods and services directly related to productive activity, in order to promote savings in production costs, increase in productivity and family income.
FADA wants, therefore, greater support for the production chain of cereals (corn, wheat, rice, millet and sorghum), legumes and oilseeds (beans, peanuts and soybeans), roots and tubers (reindeer and sweet potatoes, cassava and yams), in addition to vegetables (tomatoes, cabbage, onions, garlic, peppers and carrots) and fruit crops (mango, papaya, watermelon, strawberry, avocado, pineapple, citrus, table banana and banana bread).
The implementation of this funding, in the institution’s view, fits into the objectives of the Production Support, Export Diversification and Import Substitution Program (Prodesi) and the Medium Term Development Plan for the Agricultural Sector, approved by the Ministry of Agriculture and fisheries.
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