The Zambezi Valley Agency has just disbursed more than 80 million meticais to finance 53 agribusiness SMEs affected by Cyclone Freddy in the center of the country.

Of the total number of beneficiary companies, 19 are from Zambézia, the province worst hit by the storm that destroyed agricultural fields, equipment and industrial units in March, reports "Notícias".

The Secretary of State in Zambezia province, Cristina Mafumo, said at the symbolic cheque handover that the funding is part of a program launched this year in Tete, called Financing Agribusiness and Entrepreneurship-Emergency.

With this money, SMEs can relaunch agricultural production activities, rehabilitate infrastructures, improve agricultural implements throughout the agricultural value chain, helping to increase production, productivity and employment.

According to the source, the financing line was designed to promote agribusiness and entrepreneurship and is the result of a partnership between the Zambezi Valley Agency and the National Investment Bank (BNI).