Africa-Press – Angola. Banco Angolano de Investimento (BAI) and the National Youth Council (CNJ) yesterday signed a memorandum of understanding aimed at facilitating access to bank credit for entrepreneurs and training for young people.
The memorandum was signed by the president of the Executive Board of BAI, Luís Filipe Rodrigues Lélis, and the president of the National Youth Council (CNJ), Isaías Kalunga.
In this context, BAI will provide funding worth 10 billion kwanzas to support youth.
In addition to the 10 billion made available under the memorandum, BAI also has available, for Youth, the “Credito Pac Express”, a product that provides for exemption from charging commissions associated with credits, which can be at least five to 20 thousand kwanzas year and a rate of 7% and with a maturity of 144 months depending on the size of the project.
Among other objectives, the agreement also aims to expand credit solutions for young people, ensuring that in this way the objective of greater job creation through entrepreneurship is fulfilled.
According to the president of the Executive Board of BAI, Luís Filipe Rodrigues Lélis, the credit aims to empower small producers, traders, farmers and service providers in related areas, covering the needs of the entire production chain, thus guaranteeing the production and satisfactory commercialization of its products, as well as the maximization of entrepreneurship.
For each project, according to the BAi manager, the maximum funding limit is five million kwanzas.
On the occasion, the president of the National Youth Council, Isaías Kalunga, said that the memorandum is part of the incentives of the Angolan Executive, which aims to promote self-employment through entrepreneurship.
He stressed that the measure will facilitate the creation of several entrepreneurs and consequently the creation of more jobs, taking into account the current dynamics.
The leader of the National Youth Council (CNJ), Isaías Kalunga, spoke about issues related to the financing of the PROJAPRON and PIDECOOP programs, under the tutelage of the CNJ, through cooperatives in the different branches of cooperativism, highlighting agribusiness, aimed at creating work stations.
“We found the possibility of the products that the BAI bank has to allow the various young people, with emphasis on those from the interior of the country, to see the possibility of finding their first job at the management level as agents of the BAI bank and this will be improved with the memo, said Isaías Kalunga.
The memorandum will enable thousands of young people to get their first jobs, credits to encourage entrepreneurship among youth and scholarships”, he stressed.
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