[2019-10-04] Commercial agriculture in Angola receives funding from World Bank and France

Source: Macauhub

The World Bank and the French Development Agency have provided US$230 million to fund a project to boost the commercial agricultural production chain in Angola from next November, the project coordinator said in Malanje on Thursday.

Pedro Dozi also said that the implementation of this project is under the responsibility of the Ministry of Agriculture and Forestry and will initially be carried out in the provinces of Malanje, Kwanza Norte and Kwanza Sul, over a six-year period, according to the Angop news agency.

He said the World Bank had made US$130 million available, while the French Development Agency disbursed the remaining US$100 million to finance 300 small and medium-sized business projects operating in the agricultural value chain, notably in production, sales and processing.

He also said that the project’s coordination team is surveying small and medium-sized enterprises with at least two years’ experience in the agricultural sector and their investment plans, to provide funding in the future.