Mbanza-Kongo – A total of 23 requests for agricultural credit, valued at 332 million kwanzas (About US$ 367.677), were fulfilled until last June, by the Agrarian Development Support Fund (FADA), for associated farmers in the province of Zaire.
The information was provided Thursday, in Mbanza-Kongo, by the head of the FADA Board of Directors, Felisbela Francisco, when speaking at the delivery of farming equipment to the agricultural associations and cooperatives included in this first phase, within the scope of the Executive program called “Osi Yetu”.
The official considered the current statistics on credit applications in the province of Zaire to be insignificant, judging by the region's agricultural potentiality, and therefore requested greater involvement of the local government in the process of financing local agricultural associations and cooperatives.
It is known that at national level, FADA has already approved, until the end of June of this year, 3.682 credit requests, corresponding to Akz 29.762.661.153 (US$32.960.957), having disbursed, so far, 2,669 credits totaling Akz 22.383.022.700 (US$24.788.302).
Cooperatives benefit from agricultural equipment
A sum of 20 motor cultivators and 5 tractors were delivered to agricultural associations and cooperatives in the province of Zaire, with a view to increasing levels of agricultural production and productivity.
On the occasion, FADA's CEO, Felisbela Francisco, explained that the tractors are valued at 50 million Kwanzas, while the motor-cultivators have an estimated cost of 10 million Kwanzas, reimbursable over a period of four years, with 12 months with no charge.
The director asked the beneficiaries to take greater responsibility in fulfilling contractual obligations.
To operationalize the “Osi Yeto” program, FADA created the product called “Credit for investment in agricultural equipment” which consists of tractors, motor cultivators, micro-tractors, motor pumps, among other means for farming.
The Zaire provincial office of Agriculture, Livestock and Fisheries controls 277 cooperatives, 98 agricultural associations and 208 field schools. DA/JL/CF/DOJ
