Bank loan

Cameroon obtains $100 million loan from the World Bank to fight food insecurity

(Agence Ecofin) – In Cameroon, 8% of the GDP contribution to the agricultural sector is compromised each year due to the challenges facing the sector, according to the World Bank. This situation has a direct impact on the living conditions of nearly two million inhabitants. Therefore, local authorities try to solve the problems with the support of international partners.

The World Bank approved, Monday, May 2, more than 100 million dollars in loans to help Cameroon deal with food and nutritional insecurity. According to an official statement, the loan will be granted through the International Development Association (IDA).

The fund will helpCameroon’s efforts to strengthen food and nutrition security and increase the resilience to climate shocks of targeted households and producers.” It will benefit more than 419,000 people, including “260,000 food-insecure and vulnerable people and 159,000 farmers, herders and fishermen from crisis-affected communities based in the Far North, North, North-West, South-West, Adamaoua and the East.”

“We know that agriculture plays a key role in employment in Cameroon and employs nearly 43% of the active population. But with the current climatic conditions, about 2 million people, or 9% of Cameroon’s population, live in drought-affected areas, which means that about 8% of the contribution to GDP from agricultural production is compromised each year. year.commented Abdoulaye Seck, World Bank Country Director for Cameroon.

The project will focus on three key actions namely,support food and nutrition stabilization in response to early crises,” “strengthening smallholder climate-smart production,” and ” support government capacity to monitor and coordinate food security crises, including through innovative digital and information systems.”

Its ultimate goal is to increase “productivity and access to markets in the agriculture, livestock and fisheries sectors.

Last February, Action Against Hunger warned that many of the country’s poorest families were running out of food stocks. The organization reveals that more than 900,000 people would be confronted”severe acute food insecurity with an urgent need for food assistance“by June 2022.

Jean-Marc Gogbeu