Farming families also benefit from agricultural loans in Angola

4 February 2010

Luanda, Angola, 4 Feb – The credit line for agriculture of US$350 million, approved in 2009 by the Angolan government, will start to be made available to beneficiaries “opportunely” a sector official said Wednesday in Luanda.

The loans will be made available as soon as pilot commissions are set up by Unaca-Confederation of the Association of Rural Workers and Agri-livestock Cooperatives of Angola and provincial institutions, said guild president, Paulo Uime.

Speaking about the 20th anniversary of Unaca, to be celebrated on 6 February, Uime said that loans would be provided to rural workers in villages, as well as to small and medium-sized producers, as well as to associations and agri-livestock cooperatives.

Without giving a date, he noted that the pilot commissions would be charged with supervising the process, registering beneficiaries and helping rural families living in isolated areas to gain access to funding for tractors and trucks to transport products, amongst other equipment.

The US$350 million credit line, managed by Banco de Poupança e Crédito and Novo Banco, includes two types of loan – short term, considered to be seasonal and to be used for annual costs, and investment, with a longer repayment period, which may go up to eight years.

The president of Unaca also said that the action plan for 2010 also included providing cooperatives with refrigeration units to preserve their products.

Unaca, which is present in all of Angola’s 18 provinces, in 2008 registered 7,363 associations and 1,936 cooperatives, made up of 255,000 individual members. (macauhub)