Africa-Press – Angola. The agribusiness sector consumed 80% of the amount financed by the Fundo Activo de Capital de Risco Angolano (FACRA), from 2020 to 2023, through the Informal Economy Reconversion Program (PREI), announced this Tuesday in Luanda , the Secretary of State for the Economy, Ivan dos Santos.
Speaking at the usual briefing of the Ministry of Economy and Planning (MEP), he underlined that in light of Decree 98/20 on economic relief measures, FACRA financed 5,372 projects, valued at AOA 5.3 billion, AOA 4 billion kwanzas (80%) went to agribusiness and 20% to other sectors.
Ivan dos Santos says that this microcredit component reached the entire national territory, with Luanda having the greatest “inclination, depending on the characteristic, with 1,108 projects having been financed, the equivalent of 2 billion kwanzas, generating 7,816 jobs.
“The credit was operated by the microcredit agencies. There is a disparity between funding for men and women. What we want is to place greater emphasis on women, especially young people,” she said.
According to the Secretary of State, the target is to reach 11,500 projects in the near future, and he is currently mobilizing resources to finance the referred projects.
“The PREI’s new guise is aimed at accelerating and opening companies. At the moment, in the PREI process, we are covering agents who have been formalized with access to microcredit. Carry out a survey of those who were formalized and who were not entitled to micro credit”, he reinforced.
PREI is the Program for the Reconversion of the Informal Economy designed by the Government of the Republic of Angola, to promote the Transition from the Informal Economy to the Formal Economy.
The Formalization Process is coordinated by the MEP and implemented by an intersectoral team.
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