afrol News, 16 February - Angola has approved $250 million agro-credit for small and medium scale farmers to strengthen credit among local businessmen.

The minister of State for Economic Coordination, Manuel Nunes Junior said the funding would be availed without major restrictions in terms of guarantees, as part of the programme of the government approved by the voters at the September 2008 general elections.

The MPLA supporters said the ruling party backs a social market economy in which the national business community should take control of the main mechanisms that ensure the country’s productive affairs.

“MPLA will adopt a protectionist position temporarily towards national businessmen, until they in condition to run their businesses,” Minister said.

According to the minister, the government is also envisaging the training of businessmen along with programmes for construction and rehabilitation of infra-structures such as roads, electric power and water supply systems and irrigation projects, so that domestic investment is more profitable.

He voiced for the skillness of the state institutions and pointed out excellence, transparency, accuracy and good governance as guiding principles for civil servants.

Angola has recently sworn its cabinet that is expected to take forwards the government agenda forward.

By staff writer

© afrol News

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