Over 16,000 rural workers benefit from agricultural loans in Angola

8 April 2011

Luanda, Angola, 8 April – Over 16,000 rural workers in Angola have benefitted from agricultural loans, since the Technical Committee for Campaign Credit, José Bento.

On presenting the quarterly summary of agricultural campaign credit, launched by the Angolan government, Bento also said that rural workers organised into associations and cooperatives had been granted 2.83 billion kwanzas, or around US$30 million.

The amounts granted so far to rural workers are part of a total package of US$120 million provided by Angolan banks Banco de Poupança e Crédito (BPC), Banco Sol, Banco de Comércio e Indústria (BCI), and Micro Finanças (BMF).

According to Bento, so far 778 contracts have been signed with rural worker groups and most of the beneficiaries requested less than US$5,000, which is the maximum amount for each request. The average amount requested was US$1,727.

In order to access Agricultural Campaign Credit rural workers must be organized into cooperatives or associations. (macauhub)