Africa-Press – Angola. The Credit Guarantee Fund (FGC) released, this Thursday, in Luena, Moxico province, financial packages for local businesspeople to promote the productive sector.
At a meeting held at the peace monument, the FGC presented three financing packages, namely the Production Support Guarantee (GAP), Support Line for Sustainable Projects (LAPS) and the Agricultural and Commercial Development Project (PDAC).
On the occasion, FGC Technician Eunice Alexandre said that the aforementioned financing is open to businesspeople and individuals who wish to invest in promoting internal production.
He specified that GAP is a line that finances projects of up to five million dollars, equivalent in kwanzas, with an operating period of up to ten years and a grace period of 12 months, with a Public Credit Guarantee of up to 75 percent, with interest of 7.5 to 10%.
PDAC is a line created by the Ministry of Agriculture and Forestry, with financing from the World Bank and the French Development Agency, while LAPS is the support line eligible for products under Notice 10 and others supporting the productive sector, with financing of up to 200 million kwanzas.
On the occasion, he requested the support of the local government to mobilize the business class, in order to take advantage of the protocols that the Fund has signed with banks and other business institutions, aiming to reduce the levels of document bureaucracy.
On the occasion, the president of the Chamber of Commerce and Industry of Moxico, Agrione Manuel, praised the FGC’s initiative in promoting projects linked to agriculture, fishing, livestock, manufacturing, logistics, among other sectors, auguring the pragmaticity of packages without levels of bureaucracy.
The Credit Guarantee Fund (FGC) is a non-banking financial institution, created on May 4, 2012, to facilitate banking access for micro, small, medium-sized companies and individual entrepreneurs, through public guarantee mechanisms for the development of its activities.
825 guarantees have already been issued in the country, valued at 337 billion kwanzas.
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