Africa-Press – Angola. Three hundred and 90 million kwanzas is the value of the portfolio of agricultural projects approved by the Agrarian Development Support Fund (FADA), according to the President of the Board of Directors (PCA) of the institution, Felisbela Francisco.
On the sidelines of a meeting with the Moxico business class, which took place recently in the city of Luena, the FADA PCA reiterated that 33 projects have already been approved for this region of the country, including 30 ex-military cooperatives.
Despite this number of approved projects, he said that only 19 have already benefited from the credit, with the others starting to receive financing in the first fortnight of next January.
He added that within the scope of the program to deliver 500 to agricultural cooperatives to boost the country’s productive sector, FADA created a specific package to support ex-military cooperatives with 10 million kwanzas each, for the acquisition of inputs, fertilizers, among other products.
FADA is a non-banking financial institution responsible for allocating financial resources in the form of credit for the development of food production on family farms, cooperatives, associations, micro and small companies in the agricultural sector.
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