Ndalatando – A cooperation protocol for the financing of projects in the agribusiness area was signed this Wednesday, in Ndalatando, Cuanza-Norte Province, between the National Institute of Employment and Professional Training (INEFOP) and the Support Fund for Agrarian Development (FADA).
The agreement will benefit 1,800 young farmers from 18 provinces, with financing of up to 7 million Kz (US$ 8.365,07) each, to invest in the agribusiness sector.
Under this protocol, FADA will finance 100 farmers in each province, of which seven from Cuanza-Norte have already benefited from this fund, at the signing ceremony of the aforementioned agreement.
Beneficiaries of micro-credits must repay their financing, in the medium and long term, with a 3% of interest rate.
The agreement was initialed by the general director of INEFOP, Manuel Mbangui, and by the Executive administrator of FADA, Saidy dos Santos Fernandes, in the presence of the vice-governor of Cuanza-Norte for the Political, Social and Economic area, Luzia José.
When speaking at the event, Saidy dos Santos Fernandes, mentioned that the signing of the aforementioned memorandum represents the institution's commitment to sustainable economic development, especially in the agricultural sector.
He stated that FADA's commitment to promoting entrepreneurship in agribusiness reflects the institution's recognition of the importance of this area for the country's economic growth.
He said that Cuanza-Norte has been on the radar of FADA's subsidized financing, benefiting, so far, from 121 financed projects, with a total value of 850.230.157 Kz (US$1.016.034).
In turn, the INEFOP director, Manuel Mbangui, said that the aforementioned protocol ensures capital is available to those who transform the economy and people.
He urged the young beneficiaries to generate, with capital, extra value on the land, instead of just occupying the spaces.
He stressed that owning land without generating value does not add anything to the economy, on the contrary, it delays development. Therefore, this support should result in increased production.
He also called on beneficiaries to produce responsibly, counting on current and future generations.
Manuel Mbangui also called for more inclusion of women in financing aimed at supporting agricultural production, since productive activity is essentially ensured by this fringe of society.
The deputy-governor for the political, social and economic area, Luzia José, encouraged more investment actions for the agricultural sector, taking into account its role in diversifying the country's economy.
She guaranteed the reinforcement of human resources training actions to ensure the appropriate use of financing in the agricultural sector.
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