The Livestock Development Project (PRODEL) and some financial institutions (11 micro finance establishments and two commercial banks) have taken engagements to take livestock development to a higher level in the country. PRODEL, a World Bank sponsored project to the tune of 100 million USD (circa FCFA 60 billion) is set to improve productivity of livestock and agro-pastoral production systems, processing and commercialisation of the products. The project, ‘Cameroon Business Today’ learnt, targets some 120,000 households consisting of pastoralists, producers’ organizations and their families, private small and medium-sized enterprises, those involve in livestock value chains amongst others.
Thus, the partnership agreement signed on February 6, 2018 between the National Coordinator of PRODEL, Dr Abouame Sale and financial institutions in the presence of the Minister of Livestock, Fisheries and Animal Industries, Dr Taiga is within the framework of co-financing the various projects that will be submitted by the beneficiaries. According to the agreement, financial institutions will provide 30 per cent of the amount needed for each business plan while PRODEL provides 60 per cent in the form of subvention and 10 per cent of the financing will be provided by the project owners (beneficiaries). It also emerged from the convention signing ceremony that the maximum amount allocated per project will be FCFA 40 million. A total of FCFA 25 million is allocated to fund about 300 business plans (projects) anticipated across the country.
Speaking at the event, the Minister of Livestock, Fisheries and Animal Industries, Dr Taiga, stressed that the partnership agreement marks another important phase of the project after a series of nationwide launching ceremonies. The project, he insisted, is indicative of government’s determination to modernize the livestock sector and make it profitable in accordance to the second generation option taken by the government. By accompanying producers, processing enterprises and commercialization of these agro-pastoral products, Cameroon’s growth will significantly be bolstered, he assured.