(Business in Cameroon) - On March 11, The Minister of Economy, in the presence of the Ambassador of the Swiss Confederation in Cameroon, signed grant agreements with three Cameroonian SMEs in Yaoundé. The agreements, worth XAF3.4 billion, fall within the framework of the Swiss Countervalue Funds programme.

"With this financial assistance of about XAF1 billion per project, the beneficiary SMEs will be able to improve their production respectively in the fields of renewable energy, water management, and agriculture," said the Minister of Economy.

According to the official, the first project, led by Sawel Water Sanitation and Environment, will enable the construction of boreholes and solar pumping systems for drinking water supply in four communes in the North and Far North regions. It will also enable irrigation and livestock watering and access to solar electricity for households in those regions.

The second project, an initiative of  Experience Incorporated Cameroon (EIC) cooperative, will promote the larger-scale production of certified seed to develop the production, packaging, storage, and marketing of ware potatoes in the Santa production basin in the North-West.

The third project, implemented by Solar Hydrowatt, will facilitate the supply of electricity to about 1,500 young people of the Fotetsa group in Menoua, by installing a hybrid system consisting of 120 KW hydroelectricity and 15 KW photovoltaic solar energy.

S.A.