Government provides 50 million escudos to open credit line in the agricultural sector


Praia, Nov 10 (Inforpress) – The Government will provide 50 million escudos for the implementation of a credit line in the agricultural sector, in order to face the bad agricultural year that, as indicated, directly or indirectly already affects 70.000 people in the country.

To this end, an agreement was signed Thursday at Praia City between the Minister of Agriculture and Environment, Gilberto Silva, and the vice president of the Professional Association of Microfinance Institutions of Cabo Verde, Francisco Tavares, an organization that will implement the Credit line.

According to the Government, the creation of the facilitated credit line is designed to ensure the resilience capacity of the families affected by the bad agricultural year, guaranteeing a quicky access in the maximum of 48 hours to financial resources to invest in agricultural and livestock activities, without interest and extended maturity periods.

The Executive justifies that the choice of microfinance institutions as partners for the implementation of this policy has to do with the fact that they have experience and a close relationship with families and taking into account the pertinence of the continuity and reinforcement of this policy in favor of a sustainable development.




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