FNDS provides 15 million dollars to finance agriculture in Zambezia

FNDS disponibiliza 15 milhoes de dólares para financiar agricultura na Zambézia

The National Fund for Sustainable Development (FNDS) will make 15 million dollars available to finance small and medium-sized companies operating in the agribusiness sector.

The amount, which varies between 6 and 63 million meticais, is specifically intended for those who work in the field of cashew seed production and agro-processing.

José Gonçalo, FNDS delegate in Zambézia, told the newspaper "O País" that the funding aims to increase the agricultural production capacity of companies and the income of families.

And the selected companies will have to contribute around 30% of the overall value of the project.

On a staggered basis, for agro-processing, investments range from six to 40 million meticais, while for small and medium-sized companies, the minimum annual turnover to be financed is up to 600 million meticais.

For seed production and processing, the minimum limit is 6 million and the maximum is 50 million meticais.

For borrowers interested in each of the competing areas, they must present the contribution in cash deposited in the bank, in an account dedicated to the project.

The MozRural Project is an initiative of the Government of the Republic of Mozambique, implemented by the National Fund for Sustainable Development, in the provinces of Zambézia and Nampula, with funding from the World Bank. (O País)

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