The Angolan government will issue another 5.85 billion kwanzas (US$27.3 million) in public debt to finance the credit to agricultural producers in the country, according to a presidential order.
The aim, according to the document is “to boost the Agricultural Credit Campaign and contribute to the dynamism of the rural sector,” and this debt issued by the National Bank of Angola (BNA) will be repaid over 14 semesters.
Angola’s Agricultural Campaign Credit was launched in June 2010 to “strengthen small and medium-sized agricultural producers and the credit line for support,” involving Banco Poupança e Crédito, Banco de Comércio e Indústria, Banco Sol and Banco Angolano de Investimento.
The interest rate, amounts, borrowed capital limits and contributions of the beneficiaries are set annually by the Ministry of Finance after hearing the members of the Commission for Coordination of Agricultural Credit. (macauhub)