logoBC
Yaoundé - 21 January 2022 -
Agriculture

Cameroon: World Bank approves XAF116.5 bln financing to boost agricultural productivity in the Far North

Cameroon: World Bank approves XAF116.5 bln financing to boost agricultural productivity in the Far North
  • Comments   -   Tuesday, 07 December 2021 17:47

(Business in Cameroon) - In a release published on December 2, 2021, the World Bank announced that a US$200 million (XAF116.5 billion) credit was approved for Cameroon. According to the release, the credit provided through the International Development Association (IDA) aimed at supporting “agricultural production in the Valley of Logone, located in the Far North region and being part of the Lake Chad basin.”

“ A series of factors, ranging from ecological fragility to violence-related insecurity, have forced Cameroon's agricultural sector to low productivity and low-production subsistence agriculture, particularly in the Far North. Irrigation is fundamental to ensuring food security and contributing to reducing the risk of conflicts in this Sudano-Sahelian agro-ecological zone which is the most ecologically fragile and the most vulnerable to climatic shocks. The development of the Logone Valley plays an important role in the resilience of vulnerable communities, livelihoods, and ecosystems, including their ability to better cope and adapt to the impact of climatic shocks,” explained Abdoulaye Seck, World Bank country director in Cameroon. 

According to the World Bank, the Viva Logone project is specifically initiated to “(i) support regional water security and governance of the water resources, mainly through rehabilitation of irrigation and drainage infrastructure and support to water users’ associations, (ii) promote agriculture and agribusiness production, and (iii) implement a transformational plan of SEMRY (Société d'expansion et de modernisation de la riziculture de Yagoua) and strengthen public services.”

The project will also have positive impacts on the whole rural and urban population in the Far North, the World Bank stresses. For instance, it will boost food security by contributing to the drop in food prices thanks to the increase in agricultural productivity. 

BRM

cameroon-to-disburse-xaf3-7-bln-to-settle-part-of-pamol-plantations-salary-arrears-and-social-debts
The government plans to release XAF3.7 billion to help state-owned company Pamol Plantations Plc settle part of the debt it owes employees.  Indeed,...
cameroon-new-agribusiness-firm-cfc-increases-capital-4-folds-to-xaf10-bln
On January 12, 2022, Compagnie fermière camerounaise (CFC), the new subsidiary inaugurated (on November 5, 2021) by leading brewing group SABC increased...
promote-2022-afriland-first-bank-commits-to-sponsoring-20-smes
On January 19, 2022, Inter-progress Foundation, the organizer of the Yaoundé́ International Exhibition for SMEs and Partnership (PROMOTE), signed a...
sabc-group-inaugurates-new-research-and-development-laboratory
Société Anonyme des brasseries du Cameroun (SABC), a subsidiary of the French group Castel, inaugurated its new research and development laboratory in...

Mags frontpage


Business in Cameroon n106-107: December 2021-January 2022

Nine projects and innovations that demonstrate Cameroonians’ genius


This is how Gozem plans to revolutionize the transport sector in Cameroon


Investir au Cameroun n116-117: Decembre 2021-Janvier 2022

La preuve par 9 du génie camerounais


Comment Gozem veut révolutionner le transport urbain au Cameroun