Source from: China Chamber of Commerce of Foodstuffs and Native Produce

LUSA reported on September 22 that FUNDEI acquired 1.5 million euros financing loan under the government authorization which will be specifically used by cashew nut processing enterprises for development in order to increase the added value of the agricultural product.

   The Executive Director of FUNDEI, Caliph Seidi, said the money would be used primarily to finance private cashew processors, particularly for training and buying equipment, as well as the cashews themselves.

Under the terms of the agreement, applicable interest rates will be in the 3 to 4 percent range, far from the interest rates of commercial banks that range between 17 and 18 percent, and the loan has an amortisation period of 12 months.