50 billion set aside for investment and dev't of agricultural markets

A funding agreement was signed Monday between the Minepat and the World Bank.

The 50 billion F envisaged by the agreement is to boost productivity and support the processing of maize, cassava and sorghum production, subsistence and low productivity, commercial-oriented crops to market.

This is the result of a financing agreement for the investment and agricultural market development project (Pidma) signed Monday between the Ministry of economy, planning and development (Minepat) and the World Bank.

The Director of operations of the World Bank in Cameroon, Gregor Binkert, made it clear that: "the project should directly benefit more than 120,000 small farmers men and women grouped in co-operatives which will be able to triple their yields, transform their production to create added value, and therefore very significantly increase their income and food security."

Also, the project will assist producers to invest throughout the chain of values of corn, cassava and sorghum and the production particularly processing and the placing on the market.

Indeed, the needs of agribusiness partners buyers wishing to supply in Cameroon are valued at about 200,000 tonnes for corn, 1 400 000 tonnes of cassava tubers and 30,000 tons of sorghum.

"The project will put in place a mechanism of new partnership between the public and private sectors that will allow cooperatives of small farmers, not only to access the necessary investments to meet the needs of the agro-business buyers, but also to sell their products directly to the agro-business therefore to the market", said the Director of operations of the World Bank in Cameroon.

The Minepat, Emmanuel Nganou Djoumessi, noted that: "Cameroon, like other countries in Africa under goes delay towards achievement of the objectives of the Millennium Development Goals (MDGs). Prior to this catch is the promotion of strong growth to meet the expectations of the Cameroonians."

And he further noted that: "the issue is the competitiveness of our agricultural products. Through the Pidma it comes to move from subsistence agriculture of the maize, cassava and sorghum sectors, a competitive and marketing industrialization-oriented agriculture."

They also invited young people and in particular those of the Agency of the national civic service for participation to the development of decent employment opportunities offered by the agricultural programs including Pidma.