[Angola] IFAD to invest $7.6 million in agriculture projects across eight municipalities
07-12-2018 08:30:00 | by: Bob Koigi | hits: 747 | Tags:

The International Fund for Agricultural Development (IFAD) will support the Angolan Government in the implementation of the ARP, with a $ 7.6 million financing, to be implemented in eight municipalities in the provinces of Benguela, Cunene and Huíla.

This was revealed during a meeting between the Minister of Agriculture and Forestry, Marcos Alexandre Nhunga, IFAD President Gilbert Fossoun Houngbo, who is in Angola to assess the degree of implementation of the sector-financed programs of the fund.

The Agricultural Recovery Project could benefit at least 8,000 agricultural families.

In addition to this project, IFAD is supporting the Family Agriculture Development Project (SAMAP), which is being implemented in the provinces of Cuanza Sul and Huíla, with funding of US $ 38.8 million, benefiting 60,000 family farmers.

Of this amount, US $ 28.8 million financed by the fund, US $ 8.2 million from the Angolan Government and US $ 1.1 million from beneficiaries.

The financing of new projects for family agriculture is also well under way, with financial assistance from IFAD, the Arab Bank for African Development (BADEA) and French Cooperation.

At the occasion, Minister Marcos Alexandre Nhunga said that the Executive has agriculture as the main pillar to catapult the country's development, hence the special attention and investments made in the sector, particularly for family farming.

According to the President of the Fund, Gilbert Fossoun Houngbo, the Government is engaged in the implementation of the projects, in order to satisfy the people's wishes in the context of the program to fight hunger and poverty.

With more than 35 million hectares of arable land available, the agricultural sector has prepared for the 2018/2019 agricultural campaign more than 5 million hectares throughout the country for the business and family sector to produce cereals, tubers, fruits , vegetable and oleaginous, aiming to reduce imports.

The outlook is to produce more than 21 million tons of diverse agricultural products, especially cereals and tubers.

IFAD is a specialized agency of the United Nations established on 30 November 1977 and has the function of a financial institution with the aim of contributing to the eradication of hunger and poverty in the world.      

www.ifad.org