Angola Commits
$1.2billion for Food Security
Angola
will invest an estimated $1.2 billion in
agricultural development over the next four years as
part of a food security initiative.
The investment will be financed by a line of credit
from the China Development Bank, private investments
and other loans.
The government said the plan aims to take advantage
of Angola's natural resources and bolster
employment. Angola was once a major food exporter
but a 27-year civil war that ended in 2002
devastated the sector.
The project also aims to guarantee food security,
supply the internal market and take advantage of
local, regional and international opportunities.
Angola, the world's fourth biggest coffee producer
and a top exporter of sugarcane, bananas, sisal and
cotton now imports much of its food from abroad.
Reuters/Saint/Yinka