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Rice Sector :Gov't borrows CFA 6 billion from Kuwait Fund for Development

Dernière mise à jours il y'a 11 mois

Cameroon has recently received financing of 5.9 billion FCFA from the Kuwait Fund for Arab Economic Development to support the Rice Value Chain Development Project in Cameroon

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It is co-financed by the Islamic Development Bank, the OPEC Fund, the Arab Bank for Economic Development in Africa, and the Kuwait Fund for Arab Economic Development.This project aims to improve rice productivity and production, support rice farmers, and ensure self-sufficiency and food security in the country. Cameroon aims to increase its rice production from 140,710 tons to 460,000 tons between 2024 and 2027, but supply is expected to remain below demand, requiring imports to fill the deficit. The Pdcvrc project is co-financed by several institutions, including the Islamic Development Bank and the OPEC Fund. Cameroon indeed struggles to meet its national rice demand through local production and imports a large portion of its consumption. In the Medium-Term Economic and Budgetary Programming Document 2025-2027, the country aims to increase its rice production from 140,710 tonnes to 460,000 tonnes between 2024 and 2027. However, the supply is expected to remain below demand, forcing Cameroon to maintain its imports. Indeed, according to data from the Ministry of Agriculture, the demand for rice, which increases every year, was already estimated at 576,949 tonnes in 2020. In comparison with the 460,000 tonnes projected for 2027, there will be a deficit of at least 110,000 tonnes to be filled by imports. As a result, the Rice Value Chain Development Project in Cameroon appears to be a tool designed to address this deficit. This project, with a total cost of nearly 98 billion FCFA, aims to strengthen the capacities of rice farmers, open up production areas, increase the income of small farmers and agricultural service providers, and facilitate access to basic social services

 

 Christelle koambi 

christelle
JESSICA CHRISTELLE KOAMBI
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