Angola spends US$230 Million on Commercial Agriculture Development

6 December 2018

The Commercial Agriculture Development Project (PDAC), an initiative to be implemented in two phases over a six-year period and launched on Wednesday in Luanda, will cost US$230 million, said the Angolan Secretary of State for Agriculture.

Carlos Alberto Jaime Pinto also said that the initiative, which has the financial support of the World Bank and the French Development Agency, will increase productivity and access to markets, support the diversification of the economy, help generate revenues and promote the emergence of a sustainable agribusiness.

The project will have four components, the first being the development of agribusiness, valued at US$80 million, split into US$55 million to support agricultural production and marketing, and US$25 million to support partial credit guarantees.

The second is focused on the development and improvement of infrastructure, and is valued at US$100 million, particularly focused on improving rural roads, irrigation channels and public power grids.

The third area is linked to the improvement of the business environment and institutional strengthening, valued at US$35 million, and lastly, the fourth component is project management, monitoring and evaluation, valued at US$15 million.

The first phase should cover areas with agricultural potential in the Malanje, Kwanza Norte and Kwanza Sul provinces, while the second phase will include the provinces of Huambo, Bié, Uíge, Bengo, Benguela, Luanda and Huíla.

The selection criteria were greater concentration of commercial agriculture, favourable agro-climatic conditions for growing coffee, corn, soybeans, beans and other products such as peanuts, fruit and vegetables, as well as poultry and livestock breeding. (macauhub)

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