(Business in Cameroon) - The World Bank-backed Livestock Development Project (Prodel) recently published its activity report covering the first nine months of 2021. From the report, it appears the project funded business plans to the tune of XAF10.12 billion. The World Bank contributed XAF6.06 billion, against XAF2.62 billion by partner financial institutions and XAF1.44 billion by beneficiary producer organizations.
Overall, 88 business plans out of the 131 validated were financed, representing a 67% achievement rate, Prodel explains.
According to the World Bank, thanks to Prodel, producers were able to improve and increase their milk production capacities, access veterinary services, and obtain quality inputs. Also, some cattle owners now produce close to 100 liters of milk daily.
Out of the US$134.15 million (close to XAF78.4 billion) approved on October 27, 2016, by the World Bank’s administrative board for the project, over US$100 million (XAF58.5 billion) have already been committed. Meanwhile, the project is scheduled to end on January 31, 2023.