Dundo - The Agrarian Development Support Fund (FADA) has made available a financing line for the agricultural sector in eastern Lunda-Norte province to assist and stimulate large-scale food production and to promote agribusiness.
The financing project is the result of a cooperation protocol signed by FADA and the National Institute for Employment and Professional Training (INEFOP), which aims to promote family farming and agribusiness.
The information was disclosed Wednesday in Dundo by the head of the INEFOP, João Palata, stressing that the financing project will benefit cooperatives, associations and individual producers.
João Palata said the funding for cooperatives and associations is up to 15 million kwanzas, with Kz 13 million converted into inputs and the rest for working capital, while for individual producers, the maximum amount to be made available is 5 million kwanzas, with Kz 4 million converted into inputs and Kz 1 million for working capital.
Palata added that so far, the institution has received 45 applications, which will have to undergo a careful and rigorous assessment, depending on the amount of non-performing loans with commercial banks.
FADA is a non-bank financial institution responsible for providing financing solutions for actions aimed at developing peasant food production and agribusiness, with a view to increasing the production and productivity of small farmers.
It is is responsible for implementing financial policies and strategies to support agricultural development policy, under the supervision of the Finance Ministry playing a leading role in supporting the implementation of government policies regarding public agricultural services. JVL/HD/AMP
