[Cameroon] Islamic Development Bank invests $1.25 million in livestock and fisheries project
Cameroon’s North West region’s development authority, Mideno has officially launched a XAF750m approximately $1.25million, livestock and fisheries industry development project.
Mideno, is the North West Development Authority acting on behalf of the Government of the Republic of Cameroon as the supervisor of development policy and providing a budgetary, financial and technical mechanism for development projects.
The project is financed by the government of Cameroon and the Islamic Development Bank (IDB) aimed at granting microcredits to the farmers.
Launching the scheme in Bamenda, the General Manager of the North West Development Authority, (MIDENO) Anye Cletus Matoya said the credit scheme is government’s instrument for poverty alleviation in the North West region.
The credits will be delivered in kind and cash to reduce delinquency in repayment and build confidence.
The event was also a moment to sensitize and educate representatives of selected farmer cooperatives and enterprises on the credit competent and delivery procedures.
Elsewhere the agropastoral and fishing training programme PCP-Afop, steered by the Ministries of Agriculture and Livestock of Cameroon, has just launched the recruitment of the 6th class of residents for its 88 training centres in the country.
In addition to this training, PCP-Afop plans to dispatch trainees across production sectors in the course of the year.
“The young people are currently being placed at large production basins. These basins are enrolling 1,500 young people in around 15 strategic sectors, including nine plant and six animal sectors,” said Pierre Blaise Ango, the programme’s national coordinator.
To further promote livestock farming in West Africa, IDB recently financed the small ruminant production and enhancement project in Gambia to the tune of US$26m.
The small ruminant production and enchantment project is a four-year initiative and will be financed through a two-step finance approach focusing on four major areas.
The development objective of the project is to contribute to the improvement of the livelihood of pastoral communities in Gambia, by strengthening the productivity and resilience of rural communities as well as to stimulate business entrepreneurship on the Livestock sector.
The project will be implemented in 39 districts of all the regions of the country and its expected to reach more than 30,000 households.