Agricultural campaign credit reaches over US$67 million in Angola

30 December 2011

Luanda, Angola, 30 Dec – Agricultural campaign Credit in Angola, coordinated by the Economy Ministry, at the end of November of this year totalled the equivalent of US$67.5 million, according to the sum of figures presented by the four operating banks  (BPC, BCI, Sol and BMF).

Angola’s Economy Minister, Abraão Gourgel, cited by Angolan news agency Angop said that the funding had directly benefited 35,146 smallholders resident in over 80 municipal areas in 17 of Angola’s 18 provinces, with the exception of Lunda Norte, which is not covered by the project.

Agricultural Campaign Credit, which was launched by the government in 2010, is based on a system of solidarity loans and has a fund of US$150 million.

Gourgel also said that the second package of the Agricultural Investment Credit had begun, which has also been in place since the second half of 2010, in which Banco de Desenvolvimento de Angola (BDA) has the role of managing bank.

“Of the US$200 million that make up the tranche provided so far by the Finance Ministry to the National Development Fund (FND), US$100 million were set aside for Agricultural Investment credit,” he said. (macauhub)