Public fund makes available 15 billion kz for the agricultural sector

Fifteen billion kwanzas is the amount that the Fund for Support to Agrarian Development (FADA) makes available to finance projects related to family agricultural production in the 2020/2021 campaign, throughout the country.

The chairman of the Board of Directors of FADA, Carlos Fernandes, announced the placement of the amount quoted by Angop, in N'dalatando, during a meeting of clarifications with producers on the modalities of financing and reimbursement.

According to Carlos Fernandes, the amount available is used to finance goods and services directly related to productive activity, with the aim of promoting savings in production costs, increasing productivity and household income.

The official stated that the financing will be destined to family farms, micro-companies, cooperatives and associations of agricultural producers to purchase inputs, machines and equipment for the expansion and modernization of the cultivation fields.

He added that production chains for cereals (corn, wheat, rice, pasta), legumes and oilseeds (beans, peanuts and soybeans), roots and tubers (potato and sweet potatoes, cassava and yams) will also be financed.

Vegetables (tomato, cabbage, onion, garlic, pepper and carrot), fruit (mango, papaya, watermelon, strawberry, avocado, pineapple, citrus, table banana and banana bread) are also eligible. The financing is repayable for a period ranging from one to five years, at an interest rate of 3%.

He said that the realization of this financing aims at fulfilling the objectives of the Program to Support Production, Export Diversification and Import Replacement (Prodesi) and the Medium-Term Development Plan for the Agricultural Sector, approved by the Ministry of Agriculture and Fisheries.