Mozambique to benefit from Brazil’s programme to support family-based agriculture

15 November 2011

Brasilia, Brazil, 15 Nov – Mozambique, Kenya and Senegal are expected to be the next beneficiaries of the Brazilian programme to fund the development of family-based agriculture, an official from Brazil’s Agrarian Development Ministry said Monday in Brasilia.

Speaking to Portuguese news agency Lusa, Francesco Pierri, advisor for international affairs at the ministry, said that Mozambican officials had already met with the Brazilian Minister for Agrarian Development, Afonso Florence, to deal with the matter.

Loans of US$98 million have been approved for Zimbabwe, of US$95 million for Ghana and the programme has funding of US$640 million in loans to be provided in the two-year period ending in 2012.

According to Pierri, amongst the Portuguese-speaking countries only Mozambique is on the list of candidates, which as well as Kenya and Senegal includes Namibia, Cameroon, Tanzania and Cuba.

The funding, which has an interest rate of 2 percent per year, is provided through the Bank of Brazil and has a 15-year maturity and three-year non-payment period. (macauhub)