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ANGOLA: IFAD Set To Invest $7.6million In Farming Across Country

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The International Fund for Agricultural Development (IFAD) has set in motion, plans to support the Angolan Government in the implementation of the Agricultural Recovery Project (ARP) with a $ 7.6 million financing, to be implemented in eight (8) towns in the provinces of Cunene Huíla and Benguela.

The plan was revealed at a meeting attended by the Minister of Agriculture and Forestry, Marcos Alexandre Nhunga, IFAD President Gilbert Fossoun Houngbo, who at the time is in Angola to assess the degree of the implementation of the funds for the sector-financed programs.

Estimates forecast projects that the Agricultural Recovery Project could benefit at least 8,000 agricultural families across the country.

In addition to this project, IFAD is supporting various programs such as the Family Agriculture Development Project (SAMAP), which is being implemented in the provinces of Cuanza Sul and Huíla, with funding of $38.8 million USD, a scheme that will benefit 60,000 family farmers in the country.

The break down of the funds is as follows: US $28.8 million financed by the fund, US $ 8.2 million from the Angolan Government and US $ 1.1 million from beneficiaries.

The President of the fund; Gilbert Fossoun Houngbo,  the Government is actively engaged in the implementation of the projects, to enable it to satisfy the demand of the people in the context of the program to fight hunger and poverty in the country.

IFAD has also made known its intentions to give financial assistance to financing new projects for family agriculture , this will be done in collaboration with Arab Bank for African Development (BADEA) as well as French Cooperation.

With more than 35 million hectares of arable land available within the country; the agricultural sector has prepared for the 2018/2019 agricultural campaign, lands and framyards that is 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 projection is to produce more than 21 million tons of diverse agricultural products, especially cereals and tubers.

It is noteworthy to state that, IFAD a specialized agency of the United Nations  which was established on the 30th November 1977 and with the function of a financial institution which is aimed at contributing to the eradication of hunger and poverty in the world.

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