Saurimo – At least 17 agricultural cooperatives in the province of Lunda-Sul benefited (Thursday) from a credit for equipment, as part of funding for light mechanisation in family farming.

The Angolan Agrarian Development Fund (FADA) is the funding part of the Programme to Accelerate Family Farming and Strengthen Food Security, and aims to promote and maximise production levels and promote the modernisation of agricultural practices.

The cooperatives in the four municipalities that make up the province of Lunda-Sul received five tractors and 12 motor-cultivators, valued at 333 million, 345 thousand and 484 Kwanzas.

On the occasion, the Chairwoman of the Board of Directors of the Angolan Agricultural Development Fund (FADA), Felisbela Francisco, emphasised that the amounts can be repaid in five years and include a grace period of one year of capital and nine years of interest.

She added that the interest rates vary from 1 to 3 per cent and the amounts to be disbursed depend on the type of equipment, with the maximum limit for tractors being 50 million kwanzas and Kz 10 million for motor-cultivators.

He said that in order to have access to funding for motor-cultivators, the beneficiary must have at least two hectares of land already produced and for tractors 50 hectares is required.

In addition to Lunda-Sul, the programme, which plans to finance more than 3,000 pieces of equipment, will in the second phase cover the provinces of Cunene, Zaire, Lunda-Norte, Moxico, Cuando-Cubango, Luanda, Bengo, Cuanza-Norte and Cabinda.

By July 2024, FADA had financed 2,700 agricultural projects in the country, with a total value of 23 billion Kwanzas.

In turn, the governor of Lunda-Sul, Daniel Neto, called for a sense of responsibility on the part of the beneficiaries, especially when it comes to reimbursing the amounts. EM/JW/HD/DAN/DOJ