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Yetu Bank will finance agricultural projects to foster agricultural growth

Banco Yetu will finance agriBank Yetu will finance agriCultureture projects with the aim of boosting agricultural growth and diversifying the national economy. To this end, the bank has decided to implement a financial program since the beginning of the year to help small farmers.

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"The Banco Yetu agency will finance projects related to the promotion of agriculture, cattle farming, goat farming, rice, corn, beans, soy, sugarcane, fishing and, consequently, the production of its derivatives to reduce imports, as well as stimulate economic development to improve the living conditions of the populations through the eradication of hunger, misery and poverty in the communities," revealed Mateus Cassinda, head of the bank in Huambo.

Cited by Angop, the person in charge who spoke on the sidelines of the 1st Business Forum organized by Yetu Bank, advanced that values between one and 150 million kwanzas will be allocated for credit. These credits will be destined to small entrepreneurs who want to advance with farming initiatives and to small farmers who are legally linked to cooperatives and associations.

The financing of the projects will depend on the results of feasibility studies that the farmers present, he explained.

"We are open to financing projects that do not demand very high values. We also want to understand and identify the difficulties experienced by promoters involved in local production, especially small producers, cooperatives and business associations for the re-launch of agribusiness projects in Huambo," he stressed.

José Cornélio, vice-governor of the Political, Economic and Social sector of Huambo province, took the opportunity to applaud the initiative: "with this action, Yetu Bank is opening the main premises to boost the economy with a view to stimulating real market competitiveness, supported by the intensification of local production," he said.

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