The President of the Republic, José Eduardo dos Santos, Friday in Luanda ordered the updating of the Coordinating Committee of Farming Loan, which aims to give local producers access to equipment, materials and inputs through the use of bank credit.

According to a press release issued by the Civil House of the President distributed, Friday, in Luanda, the Commission is coordinated by the Minister of Economy and includes representatives from the ministries of Finance, Agriculture and Chairman of the Board of Directors of Development Bank of Angola (BDA).

The Committee is in charge of coordinating the implementation of agricultural credit line at national level, to assess the degree of fulfillment of the objectives of this line and its macroeconomic impact.

The organ is tasked with commenting on the financial terms of credit, specific mechanisms and procedures governing the intervention of the institutions involved, propose changes deemed necessary conditions for access and may adjust the interest rate applicable to loans.

According to the order, may be invited to the meetings of the Coordination Committee, the chairmen of the Boards of Directors of Banks, the president of UNACA and organizations related to agriculture and fisheries.

In another order, the President created the Interministerial Commission for the Implementation of Division of Land Zone of Kwanza and Lower Congo Basins in oil

blocks, with the aim of promoting new business opportunities to insert and accommodate the national business-related sector in the Angolan oil sector.

It should also catalyze the expansion and intensification of exploration activities, through the auctioning of new land and sea areas, especially in the Lower Congo and Kwanza Basins, with a view to discovering new resources and increasing the country's oil reserves.

The committee is also in charge of studying and proposing a bidding policy that enables a satisfactory integration of Angolan private economic agents, analyze the bids of oil blocks, analyze and decide the possible environmental and social conflicts that may arise in the areas to bid and assess all issues related to the division of the Kwanza and Lower Congo Basins.

This Committee is coordinated by the State Minister and Chief of Staff of the President and includes the Ministers of Oil, Planning and Territorial Development, Administration of

Territory, Environment, Agriculture, Industry, Construction, Urban Planning and Housing and Chairman of the Board of Directors of Sonangol-EP.