Funding of 10 Business Plans Underway

COMPONENT IIIBUSINESS-ORIENTED PRODEL

Here is an over-view of the first quarter in 2020.
Surveys on the Level of Protection of Small Ruminants
June 7, 2020
Keeping Prodel Busy during the Lockdown
June 7, 2020

Funding of 10 Business Plans Underway

By June 7th, 2020 in Business Plans, Newsletter

The quarter displays a total of 1,096 billion francs. A base of 10 business plans accounts for this funding. The investment of PRODEL amounts to 622 million. Partner financial institutions, IFPs, have raised 318 million. In return, producer organizations (POs), did secure 156 million. Livestock farming/production is still using 80% of funding. The other 20% goes to projects on livestock processing. The Regional Coordination Unit (UCR), from Zone III, has been asserting its keen business sense with 425 million.
This additional number has now raised the total of funded business plans to 30. All the producer organizations (POs), that are involved, have been attending training sessions on procurement, administration and financial management. The quarter has also recorded 82 new producer organizations in the rosters. Those ones went through in-depth diagnosis. The current lockdown has prevented the Project from going the extra mile. However, the number of short-listed business plans stands at 86. This resulted from the holding of four sessions of the Regional Pre-selection Committees (CRPS). The Centre region comes ahead with 25 business plans. The number in the South West and North West remains flat because of socio-separatist instability.

Two new partner financial institutions, IFP, are now entering the portfolio and taking the number to 29. These are Afriland First Bank in Yaoundé and the Investment Mission for Savings and Credit Management, MIGEC, in Douala. The commitment of commercial banks is questionable. In addition, five IFPs have signed yearly performance contracts. There is an issue with the management of risks sharing as concerns funding in the target sectors. Africa Garantee Fund has been running this mechanism.