Angop - Agência de Notícias Angola Press

Commercial agriculture to absorb USD 230 million

Wed, 05 Dec 2018 18:22 - Economy

Luanda - The Commercial Agriculture Development Project (PDAC) launched today (Wednesday) in Luanda by the Angolan Government will absorb 230 million US dollars, an initiative to be implemented in two phases for six years.

  • Carlos Alberto Jaime Pinto, State Secretary of Agriculture

According to the Secretary of State for Agriculture, Carlos Alberto Jaime Pinto, the initiative, which has financial support from the World Bank (WB) and the French Development Agency (AFD), will allow increased productivity, access to markets , support the diversification of the economy, help generate revenue and promote the emergence of sustainable agribusiness.

The first phase may include zones with agricultural potential in Malanje, Cuanza Norte and Cuanza Sul provinces, while the second phase will include the provinces of Huambo, Bié, Uíge, Bengo, Benguela, Luanda and Huíla.

The selection criteria were the highest concentration of commercial agriculture, favorable agro-climatic conditions for growing coffee, corn, soybeans, beans and other products such as peanuts, fruits and vegetables, as well as poultry and livestock breeding.

On the other hand, access to the market and proximity to the infrastructure to support agricultural activity, mainly water, transport and energy.

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

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

Over  35 million hectares of arable land available, the agricultural sector has prepared for the 2018/2019 agricultural campaign more than 5 million hectares throughout the country for the business and family sector to produce cereals, tubers, fruits , vegetable and oleaginous, aiming to reduce imports.

The outlook is to produce over 21 million tons of diverse agricultural products, especially cereals and tubers.