Memorandums of Understanding, MOUs, were also signed between the groups and PACA, detailing the terms for the efficient management of the funds. They were signed for PACA by the Regional Coordinator for West Region, Mr. Mbah Ngami Glory in the presence of a representative of the Regional Delegate of Livestock, Fisheries and Animal Industries, MINEPIA, Mr. Ngang Ivo Fon. Three beneficiary groups will invest part of the money in livestock farming while seven others will be involved in food crop production.
Addressing heads of the GICS at the signing ceremony, Mr. Mbah Ngami Glory said the financial assistance was offered after PACA field staff identified the priority needs of the farmers and livestock breeders, adding that after equally studying the projects, recommendations were made for their funding. He said the World Bank that is PACA’s main financial partner, is out to ensure that project interventions truly improve the lot of beneficiaries.
He warned that the money must be used for economic development to increase output and thereby improve household incomes, adding that embezzlers will be charged to court. Mr Mbah Ngami Glory said the grant should serve as a weapon in the fight against poverty and support for development for the beneficiaries.
The October 14, 2011 event was the seventh since the project was launched in the West Region in October 2010. Since then, some 91 projects in both agriculture and livestock have received financial grants from PACA worth FCFA 1.2 billion as non-refundable loans from the government to the farmers with FCFA 387 million being beneficiaries’ contribution.
The Regional Coordinator revealed that some 54 projects were under scrutiny and will be financed by January 2012.
