Agriculture Angola Development DFI Farming Finance Government Impact Investment

Angola Agrarian Fund supports families with Akz 15B

The Agrarian Development Support Fund (FADA) will make available, during this year, Akz 15B (equivalent to US$26.3M) to peasant families all over the country, announced last Saturday that institution’s CEO, Carlos Fernandes.

The official made this announcement in the end of a courtesy meeting with the provincial governor, Pereira Alfredo, as part of his two-day visit to the region, to assess the state of family farming.

Carlos Fernandes stressed that the amount in question will support family farming through the granting of credits, so that beneficiaries increase the production levels of various crops, as well as improve the harvest in the next agricultural campaign (2020/2021).

Peasant families, according to the manager, will have the opportunity to purchase tractors, fertilizers, pesticides, production tools, agricultural seeds, as well as other means to guarantee the development of agriculture in better conditions.

Also read: Angola may become self-sufficient in food in five years

He said that the financing also aims to promote agriculture, within the scope of the diversification of the economy in progress in the country, and to reduce imports of various food items.

He considered FADA important, since one of the main objectives is to remove barriers to leverage agriculture, adding that the project also focuses on supporting marketing of family farming products.

As part of its visit, the FADA’s CEO held another meeting with peasant families, cooperatives and associations of agricultural producers.

On his part, Governor Pereira Alfredo considered the financing an asset, because it will minimize the difficulties that peasant families face, especially in the acquisition of agricultural inputs, at a time when the Executive is committed to family farming.

The expected result with this support, emphasized the governor, is to create more jobs at the level of family farms, to improve the means of nutritional subsistence and to facilitate the development of value chains in the agricultural sector.

In the 2018/2019 agricultural campaign, the Government, through the Ministry of Agriculture and Forestry, distributed five thousand tonnes of fertilizers to farmers in the region.

According to the director of the provincial office for Agriculture, Forestry and Fisheries, Marcolino Sandemba, in the 2019-2020 agricultural campaign 800,000 tons of different products are to be harvested, with emphasis on cereals (corn and rice) and vegetables, almost double in terms of compared to the previous campaign.

The harvest is made by more than 101,000 families, assisted through the Mosap II project, within the scope of the Rural and Agricultural Promotion Programme in the province.

Source: Angop

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