Angop - Agência de Notícias Angola Press

Imports Replacement Programme success depends on investments

Fri, 12 Jul 2019 13:10 - Economy

Luanda - The success of the Programme for the Support of Production, Diversification of Exports and Replacement of Imports (PRODESI) depends on the preparation of businesspeople, creation of monitoring mechanisms, literacy of investment projects, financing among others, said on Thursday the administrator of the Credit Guarantee Fund (FGC), Manuel Passos.

  • administrator of the Credit Guarantee Fund (FGC), Manuel Passos

According to the official, the aforementioned actions coupled with others that have been undertaken by the Ministry of Economy and planning are expected to enable investments contained in the Credit Support Programme (PAC) to accomplish its aim and contribute to diversification of the national economy.

PAC, which is part of the PRODESI, is an instrument that facilitates access to credit for producers engaged in the production of goods contained in the list of 54 products prioritized by the government, mainly of the staple food and others deemed essentials.

In the meantime, PAC does not establish limit to financing for each project, it depends on the specificity of every single investment, but the entrepreneur must bear 25 percent of the value to be invested.