ANGOLA GOVT. APPROVED CONSTRUCTION OF ORIENTED PROJECT

Angolan government approved on tuesday the construction-oriented project during the 4th Ordinary Session of the Economic Commission of the Cabinet Council chaired by the President of the Republic, João Lourenço.

In its press note, released at the end of the Session, the Commission states that this is a five-year project – 2023-2027 – designed for the national citizens.

The documents adds that the project represents a mechanism for the execution of public policies in the field of land management and housing construction, aimed to ensure people’s decent living standards.

The Executive intends to promote the distribution of four (4) million of plot of lands by 2050, with the view to reducing the housing deficit.

The measure will help create conditions for construction of a housing model of a social nature, with easy, quick and low-cost implementation and application.

The intention is also to appeal to commercial banks to consider the use of legal land tenure titles to obtain financing and stop the proliferation of informal settlements.

The 4th Session also approved the Employment Fund of Angola (FUNEA), aimed to guarantee the financial resources necessary for the promotion of public and private initiatives that will allow the insertion of newly trained and unemployed people into the labour market.