Cameroon gears towards the financing of agricultural markets

Several local banks will participate in the financing of the project for investment and development of agricultural markets (PIDMA) in Cameroon, funded to the tune of 50 billion francs CFA by the World Bank.

Also, after the partnership convention signed October 22, 2014 between this project piloted by the Ministry of Agriculture and Afriland First Bank, to supplement the funding of eligible farmers to PIDMA, BICEC has just signed a partnership agreement with the PIDMA in turn.

This program could save the arrival of ECOBANK, allowing the Cameroonian authorities to find a banking pool to grant credits to 300 eligible agricultural cooperatives in this project.

The PIDMA which will benefit 120,000 farmers and their families, aims to increase the production of corn, sorghum and cassava in Cameroon, in order to supply the food and drink industries engaged in the process of reducing their imports of raw materials.