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Fri, 01 Nov 2019 19:39 - Updated Fri, 01 Nov 2019 19:39

Banking sector gets AKz 141 billion to fund PRODESI

Huambo - At least 141 billion kwanzas is the amount that commercial banks will make available to the Production Support, Export Diversification and Import Substitution Program (PRODESI), to finance national producers, with the aim of increasing indexes of productivity in the 2019/2020 agricultural season.

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State secretary of Economy, Sérgio de Sousa Mendes dos Santos (file)

Photo: Pedro Parente

The fact was released Friday in central Huambo province, by the Secretary of State for Economy, Sérgio de Sousa Mendes dos Santos, moments before the closing of the 7th edition of the Forum of Municipalities of Angola, which started on Thursday under the guidance of the Minister of State for Economic Coordination, Manuel José Nunes Júnior.

The official said that the Angolan Government has 25 million kwanzas of guarantee, so that producers have access to credit with reduced interest, aiming at increasing agricultural production to reduce imports.

Sérgio de Sousa Mendes dos Santos informed that the Ministry of Economy and Planning registered, through the internet application, 15.000 producers who carry out their activities in the communes, municipalities and provincial headquarters, in a universe of 54 selected producers.

For this reason, he said that the authorities are undertaking a broad process of organizing and legalizing cooperatives, structuring companies and formalizing their economic activity, while gathering information from new producers who are expected to enter the production chain and therefore receive credit.

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