Luanda - The Agrarian Development Support Fund (FADA) has reached an overall credit portfolio of 22.3 billion kwanzas in assistance to a total of 3,681 projects spread across several provinces, its CEO Felisbela Francisco has said.
Felisbela Francisco said Luanda province tops the list with 893 funded projects, representing 5.6 billion kwanzas disbursed, followed by Cuando Cubango (586 projects) and Huambo, with 421.
Speaking at the second session of the “Connections” program, which focused on “Agriculture, agro-industry and livestock”, Felisberta Francisco said that in terms of funds disbursed, Huíla (5.5 billion) and Huambo (Kz 3.7 billion) are among the three with the highest amounts granted, following Luanda, whose figures are referenced above.
According to the manager, FADA is aligned with the National Development Plan (PDN) 2023/2027, in promoting and diversifying agricultural production and environmental social responsibility.
“This alignment aims to guarantee food security, increase employment and family income, as well as promoting environmental sustainability,” she said.
As regards to agriculture, she pointed out that family farmers are the main beneficiaries of FADA funding representing 48.09 percent of the credit portfolio, followed by agricultural cooperatives (35.82).
Micro, small and medium-sized agricultural companies account for 15.17 percent of the credit granted by the institution.
Felisbela Francisco said FADA distributes credit according to a strategic approach which, among other variables, takes into account population density, predominant agricultural activity and production potential, as well as the socio-economic shortcomings of each province.
The Secretary of State for Agriculture and Farming, Castro Camarada, on his turn said that in recent years the agricultural sector has made remarkable progress, recording a six percent increase in 2023.
Castro Camarada added that through the government’s reinforcement technical assistance capacity of the Veterinary Services Institute, meat production has risen from 319,000 tons in 2022 to around 342,000 tons.
However, he acknowledged that the gains made are still insufficient when compared to existing needs and potential.
FADA is the indirect administration body responsible for providing financial resources for actions aimed at developing peasant food production and agribusiness. JAM/VC/AMP
