Agriculture credit granted to Angolan farmers

Dec 01, 2010

Farmers in the Chinguar district of Angola will be able to invest in new seeds and tools thanks to an agricultural credit campaign that has been introduced by the Savings and Credit Bank.

According to Agencia AngolaPress, the financial institution has allocated 131 million kwanzas (€1.08 million) to the initiative, which will be distributed to 700 peasant farmers that are part of agricultural associations and cooperatives. Fertiliser, seeds and tools will be bought with the funding, along with 53 water pumps, 147 spraying instruments and 312 bovine cattle.

The finance was handed over in a ceremony on Monday (November 29th) that was overseen by Maria Domingos, Administrator of Chinguar, which is located in the central Bie province. This is the latest round of finance to be offered to farmers in Angola, with the news source recently reporting those operating in Cela and Kilenda Kassongo are to benefit from a fund worth approximately $2 million (€1.53 million).