The Director General of the Zambezi Agency considers the Catalytic Fund for Innovation and Demonstration (FCID) to be a significant support mechanism for our private sector, given that it is a 20% subsidy.
“In this second edition of the Catalytic Fund, we are financing companies to the tune of between 587,000 and 750,000 dollars,” said Roberto Albino, explaining that “this is significant support for our private sector, given that it is a 20% subsidy.”
The Director General of the Zambezi Agency said that the 11 sub-projects approved in this edition, budgeted at around 8.5 million US dollars, will benefit 11 companies and more than five (5) thousand small producers in the provinces of Tete, Manica, Sofala, Zambezia and Niassa.
He also explained that the FCID is a competitive, demand-driven fund of subsidized grants, with a selection process based on evidence that demonstrates business practices that benefit small producers and micro, small and medium-sized enterprises (MSMEs).
“It’s a financing platform for private sector initiatives, with an approach of inclusive business links with the potential to increase trade with Malawi,” said Roberto Albino in his speech at the ceremony to sign subsidy agreements to finance projects under the 2nd edition of the Catalytic Fund for Innovation and Demonstration (FCID), which took place today in the city of Beira.