Angola approves public endorsement for credit to small and medium farmers

18 June 2015

The government of Angola has awarded a public approval to granting credit to small and medium agro-livestock farmers by some banks in the amount of 3.9 billion kwanzas, according to a presidential order.

The order noted the need to promote access to credit for these producers and “stimulate modern commercial agriculture that is competitive and prosperous, and able to generate income,” through national products “and to contribute to strengthening the national agricultural sector.”

The document approved public guarantees for the banks financing this facility, including Banco Poupança e Crédito, Banco de Comércio e Indústria and Banco Sol, “at the limit of their participation” in the Agricultural Credit Campaign for 2015.

Angola’s Agricultural Credit Campaign was launched in June 2010 to “strengthen small and medium sized agro-livestock producers and the credit line to support them,” the order said.

The interest rate, amounts, loan limits and limits on equity, are set annually by the Ministry of Finance, under the regulation of this support, after consulting the members of the Coordination of Agricultural Credit Commission. (macauhub/AO)