Work on the Fund to Support Agricultural Development (FADA) of Angola is currently focused on selecting the products that will benefit from state support, said the managing director Josefa Sacko.
FADA was reactivated in October 2016 as a “specialised financial institution” to support agricultural development policy in the country, under the Ministry of Finance, during a joint session of the Economic Commission and Commission for the Real Economy of the Council of Ministers.
Created under Executive Decree No. 40/87, the Fund to Support Agricultural Development Fund was managed by a Management Committee appointed by the Minister of Agriculture and Rural Development.
Later a Management and Restructuring Committee was created as it was “maladjusted to the constitutional reality,” as well as the need to give the institution renewed drive, to support, develop and promote agriculture in the country.
The manager also told Angolan news agency Angop that the Research and Planning Office of the Ministry of Agriculture was assessing the sector and taking into consideration the opinions of stakeholders, “in order to define the strategy for the sector, which is of capital importance to the country.”
Sacko stressed the need to make resources reach those who are actually involved in agricultural production, regardless of size, and stressed the importance of FADA, “as one of the greatest obstacles to developing agriculture is access to finance.” (macauhub)