(Business in Cameroon) - The Islamic Development Bank (IDB) approved $53.71 million (CFA34.6 billion) in financing to Cameroon, under three agreements, to boost the agricultural sector. Documents were signed August 15 between the Cameroonian minister of economy, Alamine Ousmane Mey (photo), and IDB’s Vice President, Sayed Aqa.

The financing targets agricultural infrastructures and value chain development projects in the country’s South-West. This project aligns with the government’s agricultural plan featured in the 2010-20 Growth and Employment Strategy paper (GESP). The goal is indeed to contribute to the sector’s inclusive development through higher productivity. Under the move, smallholders will see an improvement in incomes and agricultural services.

Moreover, the IDB fund will be used to facilitate access to basic public social services (water, sanitation, education and health), promote the creation of rural businesses and institutions operating in crops’ value chain and improve cooperatives’ capacities through rural development projects.

S.A