Luanda – Over 42 billion kwanzas have been disbursed by the Angolan Development Bank (BDA), since May up to date, to fund 1,22 projects under the Credit Support Project (PAC).
The data were announced Tuesday in Luanda by the Secretary of State for Economy, Ivan Marques dos Santos, who said that the mentioned amounts were invested in fields of agriculture, trade, distribution, fisheries, cattle breeding, tourism, industry and manufacturing, municipal solid waste and textiles and clothing.
While speaking to the press in the framework of the “Briefing Bissemanal” (Fortnight Briefing) of the Ministry of Economy and Planning (MEP), the official said that the disbursed money is part of an overall package of 68.24 billion kwanzas which will be use to finance a total of 1,758 approved projects across the country, in the scope of PAC.
According to Ivan Marques dos Santos, the greater part of the financed projects comes from the agriculture sector which added up to 407 in a total of 722 approved projects.
In addition to the values provided from May to November this year, the official noted that preliminary figures showed that a total of 2,995 projects had been funded, with an overall value of around 1.4 billion kwanzas, for the period 2019 to 2022.
He pointed that such funding was made through several financial instruments set up by the State, namely the Notice 10/20 of the National Reserve Bank of Angola (BNA), PAC and the Programme to Support Production, Diversify Exports and Substitute Imports (PRODESI).
To the Secretary of State, the data presented shows the new paradigm of the Angolan government which is the investment in the diversification of the national economy with agriculture as the major driving force.
He mentioned that although the figures do not yet meet the real needs of the country, the results achieved have already started to impact on the Gross Domestic Product (GDP), by reducing the weight of oil in the national economy.
As example, in 2011 the weight of oil in the GDP was 42%, while in 2021 it reduced to 28%.
Meanwhile, included in the Programme to Support Production, Diversify Exports and Substitute Imports (PRODESI), PAC applies to investment projects that contribute, either directly or indirectly in the internal production of sugar, corn, rice, wheat, cassava, sweet potato and beans, as well as includes potatoes, tomatoes, onions, garlic, carrots, peppers, cabbage, lettuce, bananas, mango, pineapples, pasta, cooking oil, palm oil, salt, eggs, chicken, goat meat, pork, tilapia fish, horse mackerel, sardinella, among other products.
