Announcement of Cameroon Boosts Livestock Production on January 12, 1989

FOR IMMEDIATE RELEASE Vorld Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. *Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 89/20 CONTACT: Leandro V. Coronel (202) 477-3641 CAMEROON BOOSTS LIVESTOCK PRODUCTION WASHINGTON, January 12, 1989 -- Cameroon will increase livestock production and raise traditional producers' incomes through a project that will improve the availability of veterinary drugs and health and extension services, promote land conservation, and build up agricultural agencies. The project will be partly financed with a World Bank loan of $34.6 million. Specifically, the project is designed to increase meat and milk production, raise the incomes of poor livestock herders and reduce government expenditures for services to the livestock sector. To achieve these objectives, the project aims at making livestock production more efficient, encouraging the private sector to take a larger role in providing services to producers, making ublic enterprises more profitable and competitive, and reinforcing the planning apability and extension services of MINEPIA, the ministry in charge of livestock, fisheries and animal industries. The institution-building aspect of the project includes support to strengthen producers' associations and promote participation by women and poor herders in developing livestock projects. Credit will be available for establishing drug import ventures, veterinary clinics, livestock and land development, poultry production, and feed and livestock-processing industries. The livestock sector accounts for 16 percent of agricultural production in Cameroon and is a source of income for three of every 10 rural residents. Domestic meat production is unable to keep up with demand, and livestock losses resulting from diseases amount to about $100 million a year. The $55.2 million project will also receive financing from the government, the International Fund for Agricultural Development, the European Development Fund, and France's Fonds d'aide et de cooperation. The World Bank loan is for 17 years including five years' grace, with a variable interest rate, currently 7.65 percent, linked to the cost of the Bank's borrowings. It also carries an annual commitment charge of 0.75 percent on the undisbursed balance. NOTE: Money figures are expressed in U.S. dollar equivalents.