Public Management

Cameroon secures US$100 mln World Bank loan to curb food insecurity

Cameroon secures US$100 mln World Bank loan to curb food insecurity
Tuesday, 03 May 2022 18:48

In Cameroon, 8 percent of GDP contribution in the agricultural sector is compromised every year because of the challenges facing the sector, according to the World Bank. This situation has a direct impact on the living conditions of close to two million residents. Therefore, local authorities are trying to address the issues with the support of international partners.  

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

The fund will aid “Cameroon’s efforts to strengthen food and nutrition security and increase 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, pastoralists and fishermen from crisis affected communities based in the Far North, North, Northwest, Southwest, Adamawa, and East regions.”

“We know that agriculture plays a key role in Cameroon’s employment and employs nearly 43% of the workforce. But with the current climate conditions, about 2 million people, 9 percent of Cameroon’s population, are living in drought-affected areas, which means that about 8 percent of GDP contribution from agricultural production is compromised annually,” commented Abdoulaye Seck, World Bank Country Director for Cameroon. 

The project will focus on three key actions namely, “support early shock-response food and nutrition stabilization,” “strengthen climate smart production of smallholders,” and “ support the Government’s food security crisis monitoring and coordination capacity including through innovative digital and information systems.”

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

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 face "severe acute food insecurity with an urgent need for food assistance" by June 2022.  

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Government seeks CFA3104.2 billion in fresh financing for 2026 Funding need rises by CFA777.7 billion compared with last year Debt risk...
Spending plan reaches CFA8816.4 billion, up 14% from 2025 Special Accounts nearly double after creation of a new women and youth...
BoG cuts its benchmark rate to 18% from 21.5%, citing disinflation and better macro conditions. Inflation drops from 23.5% in January 2025 to 8%...
Intelcia to buy back 65% stake from Altice, regain full ownership by 2026 Group targets global top 10 ranking by 2030 through acquisitions, AI...
Most Read
01

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
02

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...

Mauritania Advances Blockchain Policy to Modernize Digital Public Services
05

ECOWAS launched the second phase of PAMCIT to expand training in translation and conference inte...

Africa Turns to Multilingualism to Fill High-Skill Jobs
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.