Around 50 million dollars (1 USD is equivalent to 872 kwanzas) were disbursed, via banks, for the execution of the Project to Accelerate the Diversification of the Economy and Create Jobs, the Secretary of State for Public Investment, Ivan dos Santos, assured this Thursday in Luanda.
Speaking at the 21st thematic session, promoted by the Ministry of Telecommunications, Information Technologies and Social Communication (MINTTICS), he explained that this amount was used to capitalize the Credit Guarantee Fund (FGC), restructuring the Project Implementation Unit and expenses with provincial managers.
He explained that the capitalization of the FGC facilitated risk sharing for the promotion of loans and mobilized loans by eligible participating financial institutions to eligible companies.
He added that the value of the project could reach 400 million dollars of investment leveraged by the private sector, with 120 million in the Lobito Corridor.
Additionally, he highlighted that the project also has funding of 300 million dollars from the World Bank.
The director announced that, with the implementation of the project, it is expected to achieve a 20% reduction in the time for customs clearance, as well as benefit 12 thousand companies.
He also added that the aim is to diagnose 100 subsidized companies for the adoption of technology, 160 million in volume of guarantees issued and 250 loans for companies facilitated.
According to Ivan dos Santos, it is expected that there will be a 25% increase in revenues for beneficiary companies.
Among other advantages, the project will also strengthen the capacity of companies to improve management practices and access to markets and technologies, especially medium and small companies led by women.
The Project to Accelerate Economic Diversification and Job Creation is part of the framework of the axis on economic diversification, included in the conceptual note of the National Development Plan 2023-2027.
Created by Executive Decree No. 221/23 of 3 October, the project arose after Angola ratified a financing agreement with the World Bank. HM/QCB
2024-07-18 20:32:50