logoBC
Yaoundé - 13 August 2020 -
Agriculture

Cameroon: The EU provides CFAF10 bln to support transformation in cotton-producing areas

Cameroon: The EU provides CFAF10 bln to support transformation in cotton-producing areas
  • Comments   -   Friday, 17 July 2020 14:10

(Business in Cameroon) - On July 16, in Yaoundé, the Minister of Economy Alamine Ousmane Mey and Hans-Peter Schadek, head of the European Union delegation in Cameroon, signed a financing agreement for the CFAF 10.17 billion project ABC- aimed at supporting the transformation of cotton-producing areas in Cameroon.

This project is co-funded by the National Indicative Programme of the 11th European Development Fund (EDF) to the tune of CFAF 6.23 billion and the German Ministry of Economic Cooperation and Development (BMZ) to the tune of CFAF 3.93 billion.

The main goal of the ABC project is to improve the socio-economic situation and income and preserve natural resources in the cotton-producing areas of Cameroon by increasing employment in rural areas and reinforcing production systems to make them resilient to climate change.

The target groups and direct beneficiaries of this project are small producers, agro-pastoral breeders, and entrepreneurs (focus on women and young people), processors, as well as service providers in the cotton production areas.

These areas (Far North, North, and to a small extent the Adamaoua) are marked by a series of crises and changes: a demographic crisis that generates conflicts over access to natural resources, particularly agricultural and pastoral resources and major internal migratory movements. There is also the security crisis affecting the northern part of Cameroon because of the presence of Boko Haram, and the rise of criminality (frequent kidnappings for ransom, cattle thefts, etc.).  Also, they are affected by the negative impacts of climate change (more erratic rainfall), a gradual loss of soil fertility, and also the recurrence of periods of drought and flooding.

S.A.

national-bank-of-equatorial-guinea-obtains-business-license-for-its-subsidiary-in-cameroon
Bange Bank Cameroon SA, a subsidiary being set up by the National Bank of Equatorial Guinea (Bange) in Cameroon, was issued a business license by the...
moody-s-confirms-cameroon-s-stable-issuer-rating
On August 7, 2020, Moody’s published a release confirming the stable outlook of Cameroon’s issuer rating.  "The stable outlook reflects Moody's view...
cameroon-and-gabon-to-source-xaf42-bln-on-the-beac-money-market-on-aug12-2020
On August 12, 2020, the Cameronian public treasury will issue new fungible Treasury bills (T-bills) on the securities market of the Bank of Central...
cameroon-ngos-massive-cereal-purchases-inflate-prices-in-the-far-north
In the last few days, it has become hard for residents in the Far North region of Cameroon to purchase maize, sorghum, or millet since the prices of these...

Mags frontpage


Business in Cameroon n90: June 2020

Top 100 economic actors in Cameroon


Colonel Roger Kuitche: “Military strategy is an important tool that will beneft businesses and public administrations”


Investir au Cameroun n100 Juillet-Août 2020

Le Top 100 des acteurs économiques du Camerouns


Colonel Roger Kuitche : « la stratégie militaire appliquée aux entreprises et aux administrations est un outil à exploiter »