Luanda – The Angolan Risk Capital Fund (FACRA) will contribute to the diversification of the national economic activity.

This was said to Angop on Wednesday in Luanda by the Economy Minister, Abraão Gourgel, during the launching ceremony of FACRA.

According to him, studies worldwide show that the risk capital was one of important catalyst for economic growth, increase of competitiveness and support to innovation and entrepreneurship.

To the minister, the prevailing debt of many small and medium companies has been placing the commercial banks at high levels of risk while granting credits, and thus making higher the cost of loan for the referred firms.

Abraão Gourgel said that FACRA will boost the entrepreneurship and business skills, actively participating in the management of small and medium companies through access to high level professional services.

Until 2022, the positive impact of FACRA will result in a growth of more than USD 10.0 billion in GDP and generation over 500.000 new jobs, diversifying the national economy and increase global competiveness of Angola.

 Created on July 07, 2012, the fund aims to provide stable long term funding for the start and expansion of the Angolan Programme of Development Micro, Small and Medium Firms (MPME).

Kwanza Management Society of Entrepreneurial Projects is the entity hired to ensure the implementation of the FACRA.