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Presidential Decree No. 133/23 creating the National Employment Fund of Angola (FUNEA) aimed to guarantee financial resources to promote the insertion of recent graduates and the unemployed in the labour market.

Country/Territory
Angola
Document type
Regulation
Date
2023
Source
FAO, FAOLEX
Original source
Diário da República, I Série, No. 90.
Subject
General
Keyword
Special fund Subsidy/incentive Financing Youth
Geographical area
Africa, Central Africa, Least Developed Countries, South Atlantic
Entry into force notes
This Presidential Decree enters into force on the day after its publication.
Abstract

This Presidential Decree creates the National Employment Fund of Angola (FUNEA) aimed to guarantee financial resources to promote the insertion of recent graduates and the unemployed in the labour market. FUNEA consists of a set of financial assets, essentially time and demand deposits, intended to create and support public and private projects and initiatives that generate employment. FUNEA is responsible for the following: a) acquiring specialized services to be used; b) acquiring patents and other intangible assets; c) acquisition, maintenance and conservation of goods to be used; d) Lost Fund loans and incentives to young people who attend courses or professional training actions; e) Financing of projects by entities of the National Professional Training System; f) Reimbursable financing for micro and small companies, support for employment and self-employment through lines of credit with financial institutions; g) Financing of initiatives with the aim of providing young people with specific skills aimed at their immediate placement in the labour market through training entities in partnership with companies in the Productive Sector; h) Other relevant measures for the materialization of the National Employment Policy.

Full text
Portuguese
Website
www.legis-palop.org