Sunday, June 11, 2017

Cameroon Benefits FCFA 262 Billion World Bank Loan to Develop Livestock, Electricity Sectors

The two loans granted by the World Bank worth CFA 262 billion to Cameroon is intended to use for the development of its livestock and electricity sectors. According to AP, the first funding agreement involving CFA 60 billion, is intended to improve and modernize the Livestock Development Project (PRODEL) for a six-year period.
The country needs to strengthen its production and marketing capacities in the livestock sector, not only to ensure domestic food self-sufficiency in livestock production, but also to enable it to export its products to the Central Africa sub-region and neighboring Nigeria where the demand is very high.
The second financing agreement, amounting to CFA 202 billion, is aimed at strengthening, extending, rehabilitating and modernizing infrastructure in the electricity sector which for some years now has been epileptic with rampant power cuts.  .

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