Luanda – National Employment Fund (FUNEA), approved Tuesday by the Cabinet Council’s Economic Commission, will start this year with values of around Kz 25 billion, bringing together all financial resources for employment in a single body.
To be managed by a financial entity selected through a public tender, the Account Fund will be sustained through the extraordinary resources from the National Treasury.
These are resources that stimulate active employment policies, such as the Petroleum Fund, donations, income from the operation of the Fund itself, based on interest, rents and profits, as well as applications.
After its publication, soon, in the Official Gazette, the entity will enter into force and it is expected that it will implement the projects related to employment that, at national level, will be made possible in all sectors of activity.
The minister of Public Administration, Labour, Employment and Social Security (MAPTSS), Teresa Dias, said through a public tender, the institution to be selected should use the policies of the Executive and the statute of the Fund.
The official told a press conference, at the end of the Economic Commission meeting, chaired by the President of the Republic, João Lourenço, that a management team will be created to approve the projects, so that the financial institution can release the resources.
With the creation of FUNEA, the Government will mobilise all the financial resources linked to the employment initiatives, which were previously carried out by several ministerial departments, and many of the times, repeated.
Meanwhile, the minister said that project will cover mainly the young people as the majority affected by highest rate of unemployment in Angola, currently estimated at five million inhabitants.
Dias assured the availability of 25 billion kwanzas to cover the remaining six months of this year.
"This money is already guaranteed for the end of the year, and every year we will have resources allocated to the Fund via Treasury resources," she said, but did not disclosed the amount for each year.
The social partners are also called upon to inspect this Executive initiative on the National Employment Fund.
