Africa-Press – Angola. The Development Bank of Angola (BDA) and the Agricultural Development Support Fund (FADA) signed a memorandum of understanding on Tuesday in Luanda to strengthen institutional cooperation in financing projects in the agriculture, livestock, agro-industry, and aquaculture sectors.
The memo aims to strengthen operational synergies through project redirection and forwarding mechanisms adjusted to their respective scopes, risk profiles, and available credit lines, programs, and products.
Leonel da Silva, Chairman of the Board of Directors of BDA, and Felisbela Francisco, Chairman of the Board of Directors of FADA, signed the agreement.
The initiative aligns with the goals of the National Development Plan 2023-2027 and the National Food and Nutritional Security Strategy (ENSA II). These plans promote coordinated action by the executive’s financial, banking, and non-banking instruments, directly impacting economic and social development and food security.
Entering into effect immediately, the memo allows promoters to benefit from better access to financing in a structured way by directing projects to the institution best suited to their profile, size, and risk level. It also reduces institutional constraints, avoids duplication of analysis, and optimizes decision time.
The agreement also offers advantages such as more tailored financial solutions by combining banking and non-banking instruments, more robust technical support resulting from sharing information and best practices between institutions, and greater project predictability and sustainability by integrating environmental, social, and governance criteria.
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