Angola: IFAD supports agriculture projects with $7.6 million

The International Fund for Agricultural Development (IFAD) will support the Angolan Government in the implementation of the Agricultural Recovery Project, with a $7.6 million financing, to be implemented in eight municipalities in the provinces of Benguela, Cunene and Huíla.

This was revealed during a meeting between the Minister of Agriculture and Forestry, Marcos Alexandre Nhunga, and IFAD President Gilbert Fossoun Houngbo, who is in Angola to assess the degree of implementation of the sector-financed programs of the fund.

The Agricultural Recovery Project (ARP) could benefit at least 8,000 agricultural families.

In addition to this project, IFAD is supporting the Family Agriculture Development Project (SAMAP), which is being implemented in the provinces of Cuanza Sul and Huíla, with funding of $38.8 million, benefiting 60,000 family farmers.

The financing of new projects for family agriculture is also well under way, with financial assistance from IFAD, the Arab Bank for African Development (BADEA) and French Cooperation.

With more than 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 more than 21 million tons of diverse agricultural products, especially cereals and tubers.

Posted by on December 7, 2018. Filed under Finance, News, Zoom. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.