The African Development Bank (AfDB) will spend in the coming months USD 1.5 million equivalent in the national currency (Kwanza), out of a total sum of USD 123.1 million, to fund the initial phase of Agriculture Value Chains in the northern Cabinda province.
The fact was disclosed by the official of the ADB Agricultural Policy, Philip Boahen, while speaking to the press at the end of a visit to the municipalities of Caconco and Buco-Zau in Cabinda.
Philip Boahen said that the amount will be spent on the agriculture sector works, under the project dubbed ” Agricultural Value Chains”.
The official asked the Ministries of Finance, Agriculture and Economy of Angola to speed up the financing process.
The Agriculture Value ??Chains project is aimed at integrating peasant families (young people and women) and to organise small and medium-sized enterprises to produce coffee, palm trees, cocoa and cashew.
The initiative also covers the creation of infrastructures for production, conservation, storage, processing and trading of cassava, bananas, sweet potatoes, peanuts and beans.
Philip Boahen, who is being accompanied by Minister of Agriculture and Forestry, Marcos Alexandre Nhunga, visited about 500,000 cocoa, palm and coffee plants in Massabi and Buco-Zau.