Luena - The Agrarian Development Support Fund (FADA) encouraged agricultural cooperatives in the province of Moxico to join the family farming financing program to guarantee food security and create jobs.
The financing line of the Agrarian Development Support Fund provides for a monetary amount ranging from AOA 10 to 50 million (US$10.2 to US$54.986k), destined for agricultural coops to promote, above all, family farming, responsible for the country's food security.
The technician from the FADA Credit department, Adão Matari, said, during the demonstration of agricultural equipment, such as tractors, motor cultivators, implements, motor pumps and seeders, held in the town of Sacassange, 15 kilometers south of the city of Luena, that the agricultural equipment exhibition aims to encourage producers to embrace the purchase of different equipment.
To subscribe to the equipment, interested parties simply need to subscribe to agricultural credit, without bureaucracy, with a one-year free and 1% rate.
“In addition to other lines of financing, there is the Working Fund, which is used to purchase fertilizers, fertilizers and even pay salaries to association workers”, he clarified.
To access the loan, cooperatives must present a letter of request to FADA, land concession title, feasibility study, pro forma invoice for equipment and personal documents.
On the other hand, the technician from the Agrarian Development Support Fund reported that in Moxico, in the institution's other eight lines of financing, 33 projects worthing around AOA 324 million (US$356.309) were approved, of which 27 actions were developed which to date have reimbursed AOA 277 million (US$304.622).
Farmers Frederico Ngueve and Felismino Pache were satisfied with the FADA financing line, as it was a way to increase production in the field.
In turn, the director of the provincial Agriculture office, António Maia, said that FADA's support will reduce one of the problems that farmers experience, the lack of equipment on display. The province of Moxico has around 420 legal cooperatives. It is one of the country's most producing regions of corn meal.
FADA finances production chains of cereals (corn, wheat, rice, massango and massambala), legumes and oilseeds (beans, peanuts and soybeans), roots and tubers (potatoes and sweet potatoes, cassava and yams), vegetables (tomatoes, cabbage, onion, garlic, pepper and carrot) and fruit (mango, papaya, watermelon, strawberry, avocado, pineapple and banana.
Equipment demonstrations have already been carried out in the provinces of Zaire, Lunda-Norte, Lunda-Sul and in the coming days it will be in Cuando-Cubango. LTY/YD/CF/DOJ
