Angola: BDA provides US$21 million for agricultural projects

25 February 2009

Sumbe, Angola, 25 Feb – Angolan bank, Banco de Desenvolvimento de Angola (BDA) has approved funding of US$21 million for 61 agricultural projects in two municipalities of the Angolan province of Kwanza Sul, the deputy-chairman of the provincial Chamber of Commerce and Industry said in Sumbe.

At the end of a meeting with businesspeople, Cungo told Angolan news agency Angop that the funding would be provided between May and July of this year.

The businesspeople from the municipality of Kibala will receive around US$12 million for the acquisition of equipment and infrastructures, with a view to planting 4,060 hectares of maize and 1,678 hectares of beans.

For the municipality of Cela, the equipment and infrastructures are estimated to cost around US$21 million and, if the 31 projects put forwarded receive funding, the agri-industrialists plan to plant 7,172 hectares of maize and 3,333 hectares of beans.

The deputy-chairman of the Chamber of Commerce and Industry said that Kwanza Sul was the province that had submitted most projects to the BDA last year, which was why figures had yet to be provided.

The BDA was set up in June 2006 and is used to finance projects focused on the development of the national economy, especially investments in the private and production sectors. (macauhub)