The International Fund for Agricultural Development (FIDA) spent about USD 50 million to support agricultural projects in Angola.
This is part of an agreement signed between Angola and FIDA in Rome (Italy) in 2009 at the World Summit on World Security.
The information was released by the chairperson of the institution, Gilbert Houngbo while speaking at the end of a meeting with Finance Minister Archer Mangueira, attended by minister of Agriculture and Forestry, Marcos Nhunga. The project started being implemented in 2010.
A Small Farmers and Marketing Development Project in the provinces of Cuanza Sul and Huíla, worth USD 38.2 million was financed until 2017.
This also include FIDA’s USD 28.8 million loan and a co-financing from the Angolan Government of USD 8.2 million and USD1.1 million of the beneficiaries themselves.
He praised the projects jointly funded by FIDA and Angolan government, after a visit to the agricultural undertakings developed in the provinces of Malanje and Bié.
READ MORE: Fortis Mobile Money, Funding Agriculture Through DIFRAD – MD
In turn, the Finance Minister Archer Mangueira considered FIDA a partner of Angolan government in supporting the development of rural communities.
FIDA has funded six rural development programmes and projects in Angola since 1991, totaling USD 139.7 million, directly benefiting 261,600 rural households.
