Cabinda – The Agrarian Development Support Fund (FADA) is to finance two thousand peasant families in the northern Cabinda Province aiming to boost coffee and cocoa production, said Monday in that side of the country the Executive Director of the FADA, Renato Baptista.
The official, who was speaking during the seminar to present the credit portfolio, explained that they will be working with farms that already have some technological and administrative structure, in order to help promote agriculture in the surrounding communities.
"It is from this segment that we’ll identify the target audience, such as individual producers, associations and cooperatives to be financed", he added.
He then said that the credit limit for individual producers of coffee and cocoa producers is 5 million kwanzas and for cooperatives it is 25 million kwanzas.
He informed that at the seminar, eight lines of financing were presented, subdivided into various products, including credit for coffee, cocoa and lines of financing for livestock, with particular emphasis on pig and poultry farming,
Renato Baptista revealed that the refund method, depends on the duration of each production cycle, stressing that coffee, as a long-term crop, will have a grace period of at least 12 months and quarterly to six-monthly repayments, with an interest rate of between one and three per cent.
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