Africa-Press – Angola. hree billion, 265 million, 499 thousand and 450 kwanzas were made available to finance 74 projects, under the Production Support Programme, Export Diversification and Import Substitution (PRODESI), in Cunene province.
The information was released this Tuesday by the director of the Office for Integrated Economic Development, Orlando Kamaty, noting that more than 390 companies had submitted their applications for access to credit, of which 74 were approved, through the Angolan Development Bank. (BDA).
He stressed that of the financed companies, 47 projects were within the scope of the Credit Support Project, with an amount of one billion, 850 million, 349 thousand 450 kwanzas, 26 projects within the framework of economic relief, whose figure is one thousand million, 365 million 150,000 kwanzas and a project related to notice 10, worth 50 million kwanzas.
The sectors that most absorbed the value are agriculture, with 34 projects, commerce and distribution 20, livestock 15 and the rest linked to the manufacturing industry, hotels and tourism and fisheries.
He said that the remaining companies are awaiting approval, which goes through several stages of the process, namely the request for support, project screening, credit dossier, negotiation with the bank and the last one, the disbursement and monitoring of the implementation of the disbursed credit.
Orlando Kamaty made it known that the financing of 19 agricultural and livestock cooperatives was also approved within the scope of Podersi.
He clarified that the cooperatives were financed within the scope of the economic relief, and that three were included in the restructured PAC program, whose value varied according to the evaluation made by the technical team.
According to the official, each cooperative has a limit amount of 41 million Kwanzas, with an interest rate of 7.5 percent, and the deadline for its repayment is negotiable.
He underlined that the intention is to make agricultural cooperatives produce more and more, causing imports to reduce significantly, as well as increasing employability and income generation for families.
Regarding the financial disbursement by the financed companies, he said that they are currently within the arrears process, stressing that they have a deadline of the second quarter of 2023.
Approved by Presidential Decree n.o 169/18 of July 20 , PRODESI is an Executive program to accelerate the diversification of national production and wealth generation, in a set of productions, with greater potential for generating export value and replacing imports.
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