The African Development Bank Group has provided a loan of €84 million for Cameroon to support livestock and fish production in line with the Bank’s strategies to create jobs and raise household incomes.
The loan, approved by the Bank’s Board will support the modernization of beef, pork and fish production, with significant improvements to food and nutrition in the country.
Both the Bank and the government of Cameroon are implementing strategic policies aimed at improving food and nutritional security, reducing poverty and improving production infrastructure in rural areas.
The project approved by the Board will specifically target raising standards and competitiveness in such key livestock value chains as genetics improvement, feeding, slaughter, processing, conservation and transportation. For fish production, the focus will be on rearing, conservation, storage, and processing.
Key beneficiaries of the project will be stockbreeders and their cooperatives , fish farmers, input producers and and many others
The project’s total cost is estimated at €99.27million (CFAF 65.113 billion. The bank will provide a loan of € 84.00 million (CFAF 55.100 billion) while the government will contribute €15.27 million (CFAF 10 billion) in counterpart funding.