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Angola news: IFAD announces USD 200 m for agriculture and fisheries


Devdiscourse News Desk luanda Last Updated at 07-12-2018 16:29:28 IST Angola
Angola news: IFAD announces USD 200 m for agriculture and fisheries
  • IFAD intends to contribute to the implementation of the Government's program to combat poverty and the development of rural areas through Agriculture, Fisheries and Livestock (Image Credit: Wikipedia)

The chairperson of the International Fund for Agricultural Development (IFAD), Gilbert Fossoun Houngbo, announced USD 200 million funding for the sectors of fisheries and agriculture.

It was announced in Angola's capital city Luanda. This was at the end of an audience granted by the President of the Republic, João Lourenço.

However, IFAD intends to contribute to the implementation of the Government's program to combat poverty and the development of rural areas through Agriculture, Fisheries and Livestock.

Gilbert Fossoun Houngbo is in Angola to evaluate the degree of implementation of the sector-financed programs of the fund. The organization that was created on November 30, 1977 develops projects in the country valued at 250 million dollars.

Among the projects, the support for the Development of Family Agriculture (SAMAP) is underway in the provinces of Cuanza Sul and Huíla, with a financing of US $ 38.8 million, benefiting 60,000 family farmers.

Of this amount, the US $ 28.8 million is financed by the IFAD, US $ 8.2 million by the Angolan Government and US $ 1.1 million in beneficiary participation.

With inputs from agency.


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