Benguela: Ten of the 250 companies affected by flooding along the Cavaco River, in Angola's southwestern province of Benguela, have already received financial support from the Government as part of economic relief measures. The information was disclosed on Tuesday by the Director of the Provincial Office for Integrated Economic Development of Benguela, Lino Cassivela Joaquim, during the 'The Voice of Governance' programme broadcast by Rádio Benguela. According to Angola Press News Agency, the funds were disbursed last Friday and the process is ongoing, while the Banco de Poupança e Crédito (BPC) reviews the applications submitted. The official, who did not disclose the amount received by each company, said that the ten companies are part of the 250 businesses identified by the provincial office. Of these, 241 applications have been submitted to BPC, 47 have already been approved and 40 have undergone on-site inspections. Lino Cassivela Joaquim revealed that business owners have already begun purchasing equi pment to rebuild their businesses and resume their contribution to increasing national production. He stressed that the economic relief measures, established under Presidential Decree 79/26, provide for a maximum amount of 300 million kwanzas per company affected by the Cavaco River floods, aimed at replacing some of the goods and products lost during the floods. 'Some lost 900 million kwanzas, while others lost more than three billion kwanzas. They will not have access to full coverage of these amounts, but they may apply for up to 300 million kwanzas,' he said. He explained that the operating bank has its own procedures and guidelines and is assessing applications and damages according to the amount requested, the needs identified and the losses recorded. Meanwhile, the Angolan Government approved, through Presidential Decree 79/26 of 27 April, a 30 billion-kwanza economic relief package to support productive units and companies affected by natural disasters and flooding along the Cavaco River in Benguela . The package is administered by the Banco de Poupança e Crédito (BPC), providing loans of up to 300 million kwanzas per affected company, with the aim of restoring productive assets and strengthening working capital.
