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Yaoundé - 08 December 2019 -
Economy

Cameroon: IFC to increase its financial support to local agriculture and agribusiness SMEs

Cameroon: IFC to increase its financial support to local agriculture and agribusiness SMEs
  • Comments   -   Monday, 15 July 2019 16:05

(Business in Cameroon) - The International Finance Corporation (IFC), will increase its financial support to Cameroonian SMEs as well as small and middle-sized industries operating in the agriculture and agribusiness sectors.

This was revealed by Sergio Pimenta, IFC's Vice President for the Middle East and Africa, on July 12, 2019, at the end of a meeting with the minister of economy Alamine Ousmane Mey. The corporation is also eyeing the telecom sectors and planning more investments in the energy sectors.  

It has already invested in the construction of Nachtigal dam (420 MW), which will increase the country’s energy generation capacity by 30%. To date, the IFC’s project portfolio in Cameroon is estimated to be a little more than XAF156 billion ($268 million).

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