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Cameroon: World Bank grants Cameroon US$100 million loan for agriculture projects

2014/12/18

The World Bank has granted Cameroon a loan of US$ 100 million (about FCFA 50 billion) to enable the Central African country to finance its project on investment and development of agricultural markets (PIDMA), according to an agreement signed by both parties.


PIDMA is aimed at strengthening competitiveness of Cameroonian products on national and international markets.

According to the Cameroonian Minister of Economy, Emmanuel Nganou Djoumessi, the project, designed in the form of an inclusive model of agro-business, is based on the development of the competitiveness of the price chains of corn, cassava and sorghum and the direct contact between producers, organized in cooperatives, and buyers.

The project, which will last five years, should help Cameroon move from subsistence farming and low competitiveness to a competitive agriculture-oriented processing, commercialization, industrialization and services of derivative products.

In general, it will be executed in the targeted agricultural production areas in the five agro-ecological zones, inclunding the Sudano-Sahelian zone for sorghum and maize, the bimodal forest area for corn and cassava, the monomodal forest area for cassava and corn, the highland area for corn and the high Guinea savannah area for corn.

The Bank's Operations Director in Cameroon, Gregor Binkert, said that PIDMA is expected to benefit over 120,000 small farmers, men and women, grouped in cooperatives, and provide farmers with the necessary technical assistance by mobilizing various partners or providers, inclunding research services that will provide producers with improved seeds and improved agricultural technologies.

PIDMA is a joint initiative of the Government of Cameroon, the International Development Association (IDA) and the International Finance Corporation (IFC).

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