Agricultural campaign credit totals US$38 million in Angola

3 May 2011

Luanda, Angola, 3 May – Agricultural campaign credit in Angola currently totals around US$38 million, the coordinator of the Technical Commission for Accompaniment of Agricultural Credit, José Bento said Thursday in Luanda.

Speaking at the end of the 4th session of the quarterly meeting of the Committee to Coordinate Agricultural Credit, Bento said that, so far, over 20,000 rural workers had received agricultural loans, covering 14 of the country’s 18 provinces.

He said that, soon, the number of locations covered would increase to 15 because of work being carried out by banks and operators such as Banco de Poupança e Crédito (BPC), Banco Sol, Banco de Comércio e Indústria (BCI), and Micro Finanças.

“In the last few months the outcome has been positive and we have seen the number of beneficiaries double since the beginning of the year,” Bento said.

The officials aid that the commission had also approved the inclusion of fishing in agricultural campaign credit, as well as a proposal for inclusion of measures to encourage distribution of products produced by rural workers that have received the campaign loans.

He added that in the next two weeks, the technical commission would provide loans for working capital that would allow rural retailers to acquire products from the rural workers and sell them on the official market.

The Technical Commission for Accompaniment of Agricultural Credit plans soon to expand its services to the provinces of Zaire, Moxico and Lunda Norte.

In his turn, Paixão Franco, chairman of Banco de Desenvolvimento de Angola (BDA), said that investment loans would be granted this month, and that his bank had US$200 million earmarked for the programme. (macauhub)