Africa-Press – Angola. Since 2021, Banco de Fomento Angola (BFA) has financed 39 agricultural business plans, valued at two billion kwanzas, as part of the Angolan Commercial Agriculture Development Project (PDAC).
BFA’s director of agri-business, Maria Nogueira, presented these data, in Luanda, to the press, on the occasion of the II Module of the Training Seminar for the Assessment of Investment Projects in Agro-business, which is being promoted by the PDAC, in partnership with the World Bank (BM) and French Development Agency (AFD). The manager stated that the agricultural business plans financed by BFA were intended for small and medium-sized farmers in the provinces of Malanje, Cuanza-Sul, Cuanza-Norte and Benguela, having assured that her bank is the largest partner in the Development Project of Commercial Agriculture of Angola (PDAC).
PDAC is a project financed by the World Bank and the French Development Agency to the Government of Angola, with a global value of 185 million Euros, with the aim of financing the agriculture sector and its entire value chain. The program also aims to increase agricultural productivity and improve access to consumer markets.
The project, which began in 2019, and is scheduled to end at the end of May this year, is coordinated by the Ministry of Agriculture and Forestry. The program was designed to develop 14 value chains, with emphasis on corn, soybeans, coffee, eggs, chicken, cassava, sweet potatoes and reindeer potatoes, peanuts, goats and sheep.
It should be remembered that, in the first phase, the project is being developed among farmers in Bié, Cuanza-Norte, Cuanza-Sul, Huambo, Huíla and Malanje.
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