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Yaoundé - 27 January 2023 -
Agriculture

Cameroon: Kuwait pledges CFA13 billion for the rice sector in the Far North

Cameroon: Kuwait pledges CFA13 billion for the rice sector in the Far North
  • Comments   -   Monday, 28 November 2022 16:00

(Business in Cameroon) - The Government of Kuwait announced the disbursement of CFA13 billion to support the development of the rice sector in the Far North. The information was revealed by Abduiridha Bahmen, who heads the Kuwait Fund delegation, during a meeting with the Cameroonian Minister of Agriculture, Gabriel Mbairobe, on November 25.

This funding, which is currently being finalized, will enable the implementation of the rice value chain development project in the region to increase national rice production by 4% each year. According to reliable information, the initiative will involve 160,000 producers and about 700,000 households.

This initiative, which is in line with the government's import-substitution policy, should help reduce the country's rice imports. Rice purchases swallow an average of CFA100 billion each year, according to official estimates.

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