Guinea-Bissau government grants microcredit to farmers to ensure food security

9 November 2015

The government of Guinea-Bissau granted a credit of 150 million CFA francs CFA (US$249,000) to six organisations that support agricultural activities generating income in the Cacheu region in the north of the country, said the Minister of Economy and Finance of Guinea-Bissau.

Minister Geraldo Martins said that granting credit was part of the food security programme the government is seeking to implement at a national level through the agency for the promotion of savings and microcredit activities of the Economy and Finance Ministry.

The programme, which was designed by the ministry departments, has granted credit in the amount of 1.5 billion CFA francs particularly to benefit young people and women, especially in rural areas.

The minister gave assurances that the government would continue to request more funds from the international community to increase provision of credit to agricultural organisations in other regions in order to cover the entire country.

Meanwhile, in Lisbon, the Guinean President, José Mário Vaz announced that India would donate US$250 million dollars to support agriculture, energy and youth employment. (macauhub/GW)