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Angolan Council of Ministers approved a line of agricultural credit of 350 million dollars
22 April 2009


Angolan Council of Ministers approved on 28-01-2009(Wednesday) a line of agricultural credit of 350 million dollars, intended to finance small and medium producers, as well as associations and agro-livestock cooperatives.

According to the Minister of Agriculture, Afonso Pedro Canga, in statement to journalists after the meeting, the campaign will be granted credits for current expenditure and investment, to purchase equipment, to increase the productivity and commercial production in the country.

The credit line will be a tool for promoting and expanding the domestic market of agricultural products, improving production systems and existing culture, to ensure higher productivity and income to farmers.

"It is a process in which unbureaucratic, at each municipality and municipality, producers will have access to credit. There are structures that will assist farmers to prepare their proposals "he said.

Pedro Canga said that the credit line will be operated by the Development Bank of Angola (BDA) and the commercial banks. The repayment of the debt, by farmers, should be done with the result of the sale of production.

According to the Minister of Agriculture, the approval of the credit line due to the fact that there are still many difficulties in the acquisition of means of agricultural production and the granting of credits.

Asked about the production of biofuels in the country, the minister revealed the existence of projects to private investors, but conditioned the beginning of the activity with the approval of legislation itself.

"There are private projects for the production of biofuels in Angola, but you need a law itself. We are working to be approved, "explained Pedro Canga.

The minister noted that there are principles to be observed in the production of biofuels, citing as an example, the prohibition of competition with food production and preservation of the environment.

Also in session today, led by the President, Josť Eduardo dos Santos, the executive approved a financing agreement worth Usd 30 million, between the government and the IDA-World Bank, intended to finance part of the agricultural project Family oriented production for the market (MOSAP).

It also approved a loan amounting to eight million dollars between the Ministry of Finance and the International Fund for Agricultural Development (IFAD), also intended to finance part of the project costs of agricultural production Family Oriented (MOSAP).

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