Cameroon : IFAD to Inject FCFA 33.3 Billion to Boost Rice and Onion Production
The International Fund for Agricultural Development, IFAD, intends to give out FCFA 33.3 billion for the Agricultural Sector Development Programme Phase 2, ASDP II, in a bid to stimulate rice and onion production in Cameroon.
The announcement was made by the representative of IFAD in Cameroon, Caroline Onanina, after a full visit carried out on September 17 and 18, to inspect the first phase of the Agricultural Sector Development Programme in the locality of Tonga in the West region of Cameroon.
The ASDP II in Cameroon will be aimed at boosting production of rice and onion in Cameroon by 2020-2026. Besides, with the FCFA 33.3 million to be funded by IFAD will enable the assistance of 64 rice producer cooperatives in four regions of Cameroon.
However, the main objective of this initiative is to reduce the massive rice import into the Cameroon territory. By so doing, the country must export at least FCFA 150 billion per year according to the National Institute of Statistics, NIS.