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Wed, 16 Sep 2020 09:46 - Updated Wed, 16 Sep 2020 09:46

PRODESI spends AKz 143.6 bln on productive sector

Luanda - Production Support, Export Diversification and Import Substitution Programme (PRODESI) released since 2019 to present date AKz 143.6 billion to support the productive sector.

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This is according to the data released by Ministry of Economy and Planning on Tuesday, stating that the initiative enabled the creation of approximately 27, 000 jobs.

The source stated that in the last seven days the commercial bank approved 12 new projects, bringing to 288 the total of projects since 2019.

Last week of this portfolio of the projects approved by financial institutions, 20 saw their credits disbursed. This means eleven (11) more than in the previous week, the source told a briefing held on Tuesday.

The total number of projects disbursed to date stand at 102.

These disbursements were made through the various financial instruments in progress, such as Economic Relief Measures (AKz 9.7 billion), 61 projects, 13 more than last week.

PAC- Credit Support Program (AKz 6.7 billion), 2 projects, disbursement additional tranches.

BNA Notice 10/20 (AKz 126.7 billion), 37 projects, seven more than last week; and Other commercial banking financial instruments and products (AKz 524 million), 2 projects.

The Secretary of State for the Economy, Mário João, put at 4, 793 the requests in the field of support in credit granting, 40 more than in the previous week, of which 2, 178 met the requirements and found active in the database.

He added that 1,669 of the active projects are in the process of being incorporated in credit issue, accounting for about 76% and 149 projects are under negotiation with the banking sector.

The bank has 150 projects to be approved and 186 to be disbursed, 117 in Trade sector, 24 Agriculture, 30 Industry, eight Fisheries, four Agro-industry, two Poultry and one Livestock.

As for the disbursement, cancellation and non-approval of the projects, the source said that there was one project that has not been approved.

Three that were returned during the week, due to the lack of participation by the promoters in the projects, the companies' equity relationship, accountants, lack of information about the activity weaknesses in economic and financial feasibility studies, in the preparation of credit proposals.

One of the Prodesi's commitments, created in 2018, is the national production of 54 goods to make the country self-sufficient.

This includes to meet the internal needs with products such as rice, sugar, rice, beef jerky, wheat flour, beans, corn meal, milk, spaghetti pasta, soybean oil, palm oil, blue soap, common salt, eggs, chicken meat, kid meat, pork, corn grain.

The products also include manioc, sweet potatoes, reindeer potatoes, tomatoes, onions, garlic, carrots, peppers, cabbage, lettuce, banana, mango, pineapple, tilapia (cacusso), Cunene horse mackerel, sardinella aurita (lambula), sardinella maderensis (straw), sunflower edible oil, peanut oil, honey, construction steel rod (greater than 8mm), cement, clinker, glue cement, mortar, plaster, plaster, and the others.

The programme covers tempered, laminated, multi-layered or otherwise worked glass, glass packaging for various purposes, construction paint, napkins, toilet paper, kitchen paper rolls, disposable diapers, sanitary towels, solid detergent (in powder), liquid detergents, Bleaches, beer, juices and soft drinks and table water.

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