Talatona — A cooperation agreement for granting credit guarantees to micro, small and medium-sized companies and individual entrepreneurs was signed this Monday in the Province of Luanda by the Credit Guarantee Fund (FDG) and Banco de Negócio Internacional (BNI).
The partnership, created within the scope of the Commercial Agriculture Development Project (PDAC), will benefit cooperatives and small farmers who are duly certified by the Institute of Small and Medium Enterprises (INAPEM), linked to the production of corn, beans, soy, coffee, eggs and chicken.
Speaking to the press, the chairman of the FGC, Luzadio Simba, revealed that the task of the institution is to guarantee the sustainability of projects that present insufficient real guarantees.
He reiterated that interested parties must be free of tax debt and overdue credit at bank level and be a producer of cereals such as beans and soy, as well as produce eggs and chickens.
On his turn, the Chairman of the Executive Committee of BNI, Mário Moreira Palhares said that the maximum amount to provide the credit ranges from 85.000 to 125.000 euros.
According to the official, with this agreement the bank is expanding the chain of bank branches that support, through financing and with the public guarantee of the FDG, the Project for the Development of Commercial Agriculture, created by the Angolan Government, in partnership with the World Bank and the French Development Agency.
The PDAC is a programme developed by the Angolan government through the Ministry of Agriculture and Forestry with the funding from the World Bank and the French Development Agency in a geographically selected field aiming to develop the agriculture sector, fight poverty, empower young people and increase the number of jobs.
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In the framework to finance the Commercial Agriculture Development Project (PDAC), the FGC has also partnerships with Banco de Fomento Angola bank (BFA), Banco Africano de Investimentos bank (BAI) and SOL bank.
The agreement that is part of the PDAC will allow the growth of cereal and chicken production in the country.
Meanwhile, Credit Guarantee Fund is a financial institution and not a bank, which was created IN 2022 under the Presidential Decree nº 78/12 of May 04, and aims to facilitate the access to the companies and businesspeople, who could not access the financial system due to lack of credit.
GIZ/MAG/MRA/jmc
