Africa-Press – Angola. The Ministry of Economy and Planning will increase and define, from this year onwards, the amount allocated to financing youth economic initiatives, said this Friday, in Lucala, the head of the sector, Mário Caetano.
According to the minister, taking into account population density, each province will receive between 500 million and one billion kwanzas.
He stated that, in addition to stratifying and defining funding, the value will quintuple, because in the past many provinces received between 50 and 100 million kwanzas.
Without advancing the value to be attributed to the province of Cuanza Norte, the minister informed that, for example, Bié and Benguela will receive each billion kwanzas.
In Bié, he informed that the minister who was speaking to the press after visiting two agricultural projects financed under the Credit Support Programme, the ministry is already in contact with the Provincial Government so that it can help find committed young people.
He pointed out that there will be more money for youth to purchase some production factors.
However, according to the minister, taking into account the need for youth financing, the ministry decided to reduce the capital to be allocated to beneficiaries to cover more young people.
This work, he continued, will also allow the expansion of the tax and contribution base, in financing of more than 500 thousand kwanzas.
Financing of small and medium-sized companies
According to the minister, more than 4,700 projects for the creation of small and medium-sized companies were financed, in the last three years, by the Development Bank of Angola (BDA), in an investment of approximately two billion dollars.
Until around 2019, he stated, 30 to 50 projects had been financed, as the BDA only financed large projects, a situation inverted with the transformation into a bank focused on small and medium-sized companies.
The Minister of Economy and Planning stated that this rate of growth in financing for small and medium-sized companies is also seen in the agricultural sector and in economic initiatives by young people, especially agribusiness.
Mário Caetano announced that this financing campaign also covered, in the last three years, more than 400 cooperatives in the country.
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