Africa-Press – Angola. Three hundred and 93 commercial and family farming projects are being financed in the province of Huambo, with a global value of over two billion kwanzas, disbursed by the Agrarian Development Support Fund (FADA).
The information was provided, this Friday, by the Executive administrator for the Business area of FADA, Renato Baptista, during the 3rd Media Nova Group Business and Connectivity Forum, which runs until Saturday, in the city of Huambo, under the motto “Agriculture, the basis of food sustainability”.
At the time, he said they were individual producers, cooperatives and associations, micro and small companies, legally constituted.
He reported that of the total amount of financing, 80 percent has already been disbursed to local community funds.
He said it was also a financial product resulting from the stimulus measures announced in July 2023, with the aim of financially strengthening cooperatives involved in various productive activities and field schools.
The official added that the province of Huambo is the second largest in the country to benefit from FADA financing, after Luanda, with 800 projects, worth over four billion Kwanzas.
Renato Baptista said that, in addition to reinforcing the dynamization of community funds, in multilateral financing in partnership with the Ministry of Agriculture and Forests, there are other lines of financing being operationalized by FADA for producers.
Along with Huambo and Luanda, for the productive sector, without detailing the amount, he reported that there are other provinces to be boosted, such as Bié, Cuando Cubango, Cuanza-Sul, Huíla and Moxico, which have shown satisfactory production rates.
As an example, he highlighted Cuando Cubango with 440 requests from family farmers for rice production, as well as others in Moxico in the honey activity, which could have a relevant impact in the near future.
He added that FADA has been implementing mechanisms that aim to facilitate credit for family farmers, as long as they present a certificate approving the ownership of the land where they intend to carry out their activity.
Renato Baptista recalled that FADA created, three years ago, eight lines of financing to meet the various demands presented by family producers, from which two thousand 607 projects have already benefited.
FADA finances production chains of cereals (corn, wheat, rice, massango and massambala), legumes and oilseeds (beans, peanuts and soybeans), roots and tubers (potatoes and sweet potatoes, cassava and yams), vegetables (tomatoes, cabbage, onion, garlic, pepper and carrot) and fruit (mango, papaya, watermelon, strawberry, avocado, pineapple, citrus fruit, table banana and banana bread).
The financing is repayable for a period ranging from one to five years, at an interest rate of 3 percent.
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