Livestock, Fisheries Production : Credit Facility To Enhance Production In NW
Government, Islamic Bank scheme targets delivery of loans worth about FCFA 750 million to create job opportunities, increase productivity of active poor in livestock and fisheries sectors.
The North West Livestock and Fisheries Development project, (LIFIDEP) has announced the disbursement of about FCFA 750 million by the government of Cameroon and the Islamic Bank to deliver on the project's micro-credit scheme of hope. Launching the scheme in Bamenda on February 20, 2020, the General Manager of the North West Development Authority, (MIDENO) Anye Cletus Matoya said the credit scheme is government's instrument for poverty alleviation in the North West region. He challenged imminent beneficiary farmers to embrace the facility with honest attitudes to help matters for progress and prosperity. He urged them to invest the credits in economic projects that generate income towards the wellbeing of the population of the North West region. It emerged that the credits will be delivered in kind and cash to reduce delinquency in repayment and build confidence.
The event was also a moment to sensitize and educate representatives of selected farmer cooperatives and enterprises on the credit competent and delivery procedures. It was against this backdrop that LIFIDEP Project Coordinator, Mbipeh Pius Shidiki said that the scheme, conceived and launched to create employment opportunities and increase the productivity of the active poor shall recruit beneficiary farmers from the livestock, fisheries, milk production and processing and poultry sectors.
It was the credit scheme's specialist, Stephen Ngenchi who stressed that women, youths and indigenous people are the first to be considered for the scheme and that the delivery will favour project owners who show proof of visibility on the ground and farmers targeted by LIFIDEP to check the level of delinquency. Beneficiary farmers will also benefit capacity building sessions to be able to deliver on productivity. Areas of concern include, small ruminants, pasture improvement and cattle rearing, poultry and fish farming etc.
The scheme is all about a facility to increase individual household income and uplifting standards of living by providing diversified and affordable financial services to the active poor in a timely and competitive manner that would enable beneficiaries to undertake and develop long-term, sustainable entrepreneurial activities.