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Yaoundé - 22 August 2017 -
Agriculture

Cameroon: PIDMA distributed about FCfa 2.5 billion worth of subsidies to farmers in 2 years

Cameroon: PIDMA distributed about FCfa 2.5 billion worth of subsidies to farmers in 2 years
  • Comments   -   Monday, 13 March 2017 17:32

(Business in Cameroon) - Over the 2015-2016 period, the Project for the Investment and Development of Agricultural markets (PIDMA in French) implemented by the Ministry of Agriculture, enabled farmers to receive subsidies totalling a global amount of FCfa 2.5 billion, we learned at the end of a meeting of this project’s steering committee.

Subsidies were given to 27 of the 40 partner cooperatives in this project financed by the World Bank with FCfa 50 billion and meant to boost the production of maize, sorghum and cassava, to supply agri-industries.

Within the PIDMA framework, farmers receive funding (in the form of subsidies) corresponding to 50% of their needs from the Project, while benefiting cooperatives, subjected to the payment of a personal contribution equivalent to 10% of the investment, seek the remaining 40% from the partner banks which are BICEC, Afriland First Bank or Société Générale.

BRM

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