“The signing of this agreement is the culmination of a dialogue process that reinforced the convergence of views between the Government of Cameroon and the European Union on the need to pursue the development in the cotton-production basin of Cameroon”
This declaration was made by Mr. Alamine Ousmane Mey, Minister of Economy, Planning and Regional Development and EDF National Authorising Officer, during the signing of the ABC Cotton Project Financing Agreement, on 16 July 2020 at MINEPAT.
This project is jointly financed to the tune of 15,500,000 euros (CFA 10.177 billion francs) by:
- The National Indicative Programme (NIP) of the 11th European Development Fund (EDF) for an amount of 9,500,000 euros (CFA 6.232 billion francs) on the one hand and,
- the German Federal Ministry for Economic Cooperation and Development (BMZ) for an amount of 6,000,000 euros (CFA 3.939 billion francs),
The objective of the ABC project is to improve the socio-economic situation and incomes with a view to preserving the natural resources in the cotton basin of Cameroon (Far North, North and Adamaoua to a lesser extent). The specific objective of the project is to strengthen employment in rural areas and the resilience of the production systems in the face of climate change.