Agriculture Raised around 8 million dollars in credit to finance agricultural projects.

The Commercial Agriculture Development Project (PDAC) has already granted a total of 8 million dollars, equivalent in kwanzas, to finance agricultural projects at national level.

During the event relating to the third workshop on evaluating investment projects in agribusiness, the financing manager, João Sunda, states that the project has 149 financed projects, 90 of which are currently being implemented.

In total, 476 business plans have been made, 149 projects have been financed, 118 of which are described as youth financing, adding that of these projects, only 90 are currently being implemented, he said.

PDAC is a pilot project, as it is the first of its kind from the World Bank and the French Development Agency, which finances it, it has already created around a thousand jobs, as its manager pointed out.

It is worth noting that banks granted a total of 62 bank loans within the scope of the Commercial Agriculture Development Project (PDAC), totaling a value of 3.4 million dollars, as stated by the commercial director of the Credit Guarantee Fund ( FGC), Márcia José.

Of the total of 62 credits, 45 have already been disbursed, and this performance is justified by the normal evaluation times of the bank, as well as by the natural times necessary in agricultural projects, she stated.

It is important to note that FGC guarantees cover up to 75% of credits granted by commercial banks.