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Cabinet officials

IFAD Invests $59.9 Million to Boost Cameroonian Agriculture

Strategic Insights

— 1 min read

The International Fund for Agricultural Development (IFAD) has announced a $59.9 million investment to support the second phase of the Commodity Value Chain Development Support Project (PADFA II) in Cameroon. This project aims to strengthen rural livelihoods, improve food security, and mitigate the impact of climate change. The project will benefit 32,000 poor rural households, with 50% being women who face limited access to finance and production tools. At least 30% of participants will be young people, who often face high rates of unemployment.

Key Takeaways:

  • The project aims to strengthen rural livelihoods, improve food security, and mitigate the impact of climate change in Cameroon.
  • 32,000 poor rural households will benefit from the project, with 50% being women and at least 30% being young people.
  • The project will introduce measures to ensure quality climate-resilient seeds and inputs, modernize irrigation infrastructure, and reduce post-harvest losses.
  • 111 farmers' cooperatives will be supported to boost production and productivity of small-scale farmers.
  • Five collection and packaging centers for onions and 26 rice warehouses will be built to reduce food loss.
  • Decent jobs will be created for young people in transportation and maintenance of infrastructure.
  • Since 1981, IFAD has invested $201.6 million in 11 rural development programs and projects in Cameroon.
  • These projects have directly benefited 610,302 rural households.

Statistics:

  • The project has a budget of $59.9 million, with $47.0 million being a loan from IFAD and $10.8 million in domestic cofinancing.
  • 50% of the project participants will be women, who face limited access to finance and production tools.
  • At least 30% of the participants will be young people.
  • 111 farmers' cooperatives will be supported.
  • Five collection and packaging centers for onions will be built.
  • 26 rice warehouses will be built.
  • 25 km of rural roads will be rehabilitated.
  • Two rice-parboiling units will be installed.

Sources:

  • The International Fund for Agricultural Development (IFAD)
  • Gilbert F. Houngbo, IFAD President
  • Alamine Ousmane Mey, Minister of Economy, Planning and Regional Development of the Republic of Cameroon
  • Abdelhaq Hanafi, Country Director for Cameroon
  • Al Bawaba (Albawaba.com)
  • SyndiGate Media Inc. ( Syndigate.info )

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