Ndalatando - The National Bank of Angola is going to work with commercial banks and the business community in Cuanza-Norte to boost and synchronize the presentation of projects with guarantees of a return on capital to boost the local economy.
The work between these institutions aims to promote financing for producers in Cuanza Norte province by commercial banks under the institution's notice 10/22.
The BNA's notice 10/22 aims to encourage financing for the agricultural sector in order to stimulate national production and reduce the prices of basic food basket products.
According to Manuel Tiago Dias, who was speaking to the press after the BNA Monetary Policy Committee meeting, at least 3.3 billion kwanzas have been disbursed under the notice.
In the province, 24 farming projects have been presented by businesspeople, and the funding already disbursed corresponds to just 0.28 percent of the total amount made available.
For Manuel Tiago Dias, the amount disbursed for entrepreneurs in Cuanza Norte province corresponding to 3.3 billion kwanzas is relatively low.
Manuel Tiago Dias said the fulfillment of notice 10/22 aims to stimulate the national productive sector, with an emphasis on agriculture, since the province represents a great agricultural potential that deserves more attention.
He recalled that the BNA's main function is to maintain stable prices for basic food basket products on the country's markets, which, as Dias said, is only possible if domestic production is regular and with all the forces in society involved.
Dias said the supply of basic food basket goods in quantity and on a regular basis is fundamental to the stability of the country's economy.
The institution will continue to support entrepreneurs who invest in national production in order to help stabilize the prices of the basic food basket, he said. EFM/IMA/YD/DAN/AMP
