Ver Angola


FADA finances agricultural projects in Cuando Cubango and Moxico with around 1.1 billion kwanzas

A total of 1.195 billion kwanzas will be disbursed this year by the Agrarian Development Support Fund (FADA) to finance agricultural projects in Cuando Cubango and Moxico.

: Facebook Ministério das Finanças de Angola
Facebook Ministério das Finanças de Angola  

According to a statement from the Ministry of Finance, to which VerAngola had access, of the total amount to be made available, 805 million kwanzas are destined for the province of Cuando Cubango, while the remaining 390 million kwanzas are reserved for Moxico.

The 805 million kwanzas for Cuando Cubango will be distributed, with 675 million kwanzas going to support 135 families dedicated to family farming and the other 130 million going to 13 agricultural cooperatives owned by former military personnel.

"Of the 1.195 billion kwanzas, 805 million, corresponding to 67.36 percent, are directed to the province of Cuando Cubango, where 675 million kwanzas, equivalent to 56.48 percent of the global value, are destined to support 135 families who develop family farming and 130 million, corresponding to 10.87 percent, to promote 13 agricultural cooperatives owned by ex-military personnel", the note reads.

In this way, each family will receive five million kwanzas, totaling 675 million kwanzas, while "each of the 13 ex-military cooperatives will have a credit of ten million kwanzas, which corresponds to 130 million kwanzas".

In turn, Moxico will be awarded the remaining 390 million kwanzas.

"The remaining 32.63 percent (390 million kwanzas) of the 1.195 billion kwanzas are reserved to boost agriculture in the province of Moxico. In this province, of the 33 approved projects, 30 are ex-military cooperatives, 19 of which cooperatives have already received the financing, with 14 remaining that are in processing", says the statement.

This financing, according to the note, is the result of memoranda of understanding signed between FADA and the cooperatives, in December last year, "at the time of the working visit carried out by the president of the Board of Directors [PCA] of FADA, Felisbela Francisco, in that region".

Last year, FADA's PCA signed several memorandums of understanding with farms and companies in the agricultural sector that will function "as anchors, providing technical assistance and support in the process of transporting products from family farmers and other small-scale farmers".


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