Mozambique’s Agrarian Development Fund has 400 million meticals to finance agriculture

6 August 2013

Mozambique’s Agrarian Development Fund (FDA) has 400 million meticals to finance agricultural production, agro-processing and livestock projects in the next agricultural season beginning in October, Mozambican daily newspaper Notícias reported.

As well as this amount to fund agricultural businesses, the FDA may this year also receive US$100 million as a donation from Brazil to support food production in Mozambique.

The Chair of the board of the FDA, Setina Titosse told the daily newspaper that the fund was available “to finance projects by agricultural campaign and investment projects with a maximum period of five years to purchase agricultural machinery, particularly mechanised water pumps, tractors and other machinery needed for agro-processing and agro-livestock activities.

Speaking to Notícias the chair of the FDA said that “the investment that the government is making in food production is intended to boost growth by 7 percent per year.

Titosse also said that, alongside agricultural mechanisation, an intervention plan will be put into place for arid and semi-arid areas of Mozambique focused on irrigation systems. (macauhub)

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