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Angola: AfDB releases funds to support agriculture in Matala

African Development Bank (AfDB) will make available this year the amount of AKZ 50M to finance projects of two agricultural cooperatives in the municipality of Matala, in the southern Huíla province.

In order to join the AfBD, the local Agricultural cooperatives worked over the weekend with officials from the Ministry of Economy and Planning in the documentary and structural organisation.

The fact was announced Monday by the official for project management of the Ministry of Economy and Planning, Manuel Maia, at the meeting with the head of the referred cooperatives, selected for this purpose, as part of the Project to Support the Credit (PAC).

He said the modalities for the attribution of the credit entails guarantees of land tenure and administrative organisation of the guild.

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He added that the two cooperatives are functional, but there is “great” work to be done to address administrative problems and with the help of the provincial government they will be in a position to join the financing that can help to reduce imports.

After the financing, Manuel Maia said that there will be a phase of monitoring and training promotions for his technical, financial and administrative training, with a view to managing available resources so that the government’s objectives of diversifying the economy to increase production are achieved.

This project is part of the Production Support, Export Diversification and Import Replacement Program (PRODESI).
The agriculture sector in the municipality of Matala controls 77 cooperatives and farmers’ associations, the largest of which operates on the local irrigated perimeter with more than 11 thousand hectares.

Source: Angop

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