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BICEC-PIDMA, Signing of the risk-sharing agreement  
BICEC, Partner in the development of Agriculture in Cameroon  
BICEC, Partner in the development of Agriculture in Cameroon

Within the framework of the PIDMA project (Agricultural Market Investment and Development Project) initiated by the government of Cameroon, Banque Internationale du Cameroun pour l’Epargne et le Crédit (BICEC) of Groupe Banque Populaire et des Caisses d’Epargnes (BPCE), and the International Finance corporation (IFC) of the World Bank Group have signed a risk-sharing agreement to the tune of 2.5 billion FCFA in a bid to support lending operations to Cooperatives locally producing cassava, maize and sorghum and involved in this project.

Through this innovation, PIDMA is transforming an agricultural milieu with hitherto low profit and less attraction for banks into a sector with strong economic potential. In effect, the project fosters the development of Agro-businesses, bringing together farmers (suppliers of raw material), agro-industries (consumers of raw material) and financial institutions.

The long term objective is to restructure the agricultural sector, that is, facilitate the transition from subsistence farming to market-oriented agricultural, while developing a win-win partnership between farmers, agro-industries and banks.

In a bid to contribute to bring changes to rural communities in general and the agriculural sector in particular, BICEC through its General Manager, Mr. Pierre MAHE and IFC through its Finance Director for West and Central Africa, Mr. Allen FORLEMU on Tuesday, 31 March 2015 signed a risk-sharing agreement to mitigate the risks of default on the loan payments related to this project.

This financing model falls in line with BICEC’s strategy to increase its investment in Agriculture in Cameroon with the framework of integrated programs like PIDMA.
Also, BICEC is increasingly promoting an innovative approach in supporting a sector that is vital for the country's development.

GALLERY




Thursday, 21 March 2019.
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