Luanda — The Development Bank of Angola (BDA) has planned two Agricultural mechanisation projects (light and heavy), with view to fund them and promote the emerging, nationwide, of Agricultural mechanised brigades, ANGOP has learnt.

"With this action, BDA is seeking to promote the emerging of businesspeople in the fields of agricultural mechanisation, countrywide, in order to boost the activity of providing mechanised services to farmers and increase the farming of cereals and vegetables, in the light of the government's economic programme", reads a note of the banking institution delivered to ANGOP this Wednesday.

According to the note, light and heavy agricultural mechanisation projects will be implemented, in a first phase, in the provinces of Bengo, Benguela, Bié, Huambo, Kwanza Sul, Huíla, Malanje and Uíge.

Candidates for funds may be Angolan farmers or national firms, mainly owned by Angolans, organised in cooperatives or consortia, added the source.

The required funding conditions include: a ten percent share of the total value to be financed, interest rate of 6.7% (to be reviewed periodically), insolvency deadline of 12 months and a refund period of 96 months.

The candidates should also fill up a pre-selection entry form that can be obtained from BDA's central agency, in Luanda, or from the chambers of trade and industry of the provinces of Bengo, Benguela, Bié, Huambo, Kwanza Sul, Huíla, Malanje and Uíge.