Burkina Faso/Milk and small ruminant sectors: Promoters receive funding to boost production
Actors in the dairy and small ruminant value chains in the Hauts-Bassins and Cascades regions benefited from funding, this Friday, August 9, 2024 in Bobo-Dioulasso. The symbolic handover ceremony was presided over by the Minister of Agriculture, Ismaël Sombié. This funding is part of the Sustainable Development Program for Pastoral Farms in the Sahel (PDPS/Burkina). This project aims to reduce poverty and strengthen the food and nutritional security of vulnerable populations in rural areas.
Nearly one and a half billion CFA francs has been mobilized to support players in the dairy and small ruminant value chains in Burkina Faso. The initiative comes from the Ministry of Agriculture, Animal Resources and Fisheries, through the implementation of the Sahel Pastoral Development Program (PDPS).
The cheques are for the first projects to be approved under the program. The total cost of this first phase amounts to over 300 million CFA francs. Today's handover specifically concerned promoters in the Hauts-Bassins and Cascades regions. According to the program's national coordinator, Amado Ouédraogo, this government initiative aims to support players in the dairy and small ruminant sectors, because, he says, these are links that are insufficiently supported by financial institutions.
Indeed, the agricultural sector in general suffers greatly from a lack of support from financial institutions, due to interest rates that are often unbearable. This is why the provision of this micro-finance line under the program is a response to the many pleas from stakeholders on the issue of financing the agro-pastoral sector in Burkina Faso. This initiative bears witness to the Ministry's solidarity with rural stakeholders. "This initiative consists in making available to them, in accordance with the principles of Islamic finance, the resources they need to develop their activities properly", he emphasized.
To implement component C of the PDPS, "Access to Islamic financing and support for private sector development", the program called on a micro-finance institution. FINEC Burkina SA will operationalize this component of the program. All these initiatives are part of the implementation of the Agropastoral and Fisheries Offensive 2023-2025 launched by Burkina's highest authorities. The aim is to enable the country to achieve food self-sufficiency. For the Minister Delegate in charge of Animal Resources, Dr Amadou Dicko, this initiative testifies to the Ministry's dynamism and commitment to food and nutritional sovereignty.
"The agropastoral offensive is underway through several initiatives. It was launched a year ago, and the first results will soon be visible. This morning, we handed over cheques to producers in the milk and small ruminants sectors. This is one of our initiatives. We want to promote the milk and small ruminant sectors by handing out microfinance worth 1.5 billion CFA francs to the players. For this first phase, we have a financial envelope of over 300 million F CFA. The aim is to really strengthen and increase milk and meat production in certain regions of the country," explained the Minister Delegate.
He invited all beneficiaries to use these funds efficiently, so as to be able to repay the loans granted to them, and so that these resources can also serve as working capital for those who may need them in the future. "In the agricultural and livestock sectors, there is a crying lack of funding. When we have this type of funding, we need to put it to good use so that it can achieve the expected results, and so that we can achieve the objectives of the Agropastoral and Halieutic Offensive currently underway," added Dr. Amadou Dicko.
Seydou Soungalo Yaméogo is Managing Director of FINEC Burkina SA. He confided that it was an honor for his institution to participate alongside the PDPS in financing players in the milk and small ruminants value chain, in particular producers and processors. "We are in charge of implementing the micro-credit component, in accordance with the principles of Islamic finance, which are ethical principles derived from the Koran and Sharia law. We have deployed agents in the field to work with grassroots players in pre-selecting applications in a participatory and transparent process. And the projects we have just financed have been analyzed for Sharia compliance", he emphasized. According to him, after this handover, the momentum will continue in the other regions where the program is implemented, notably in the Boucle du Mouhoun, the North, the Sahel and the East, in the days to come.
For the beneficiaries, this is an action to be welcomed. Speaking on behalf of the beneficiaries of Islamic micro-finance, Ibrahim Sidibé began by expressing his delight at the realization of this program, which he said had been long awaited and dreamed of. "We had been dreaming about it for a long time, and even asking for it. So we're delighted that our dream has now become a reality. And we'd like to thank the government for the efforts they've made to invest in us," he enthused. For him, this funding will help increase milk production in Burkina, as well as enriching the industry's players.
On behalf of the beneficiaries, he pledged to ensure the long-term future of the fund, by respecting the repayment deadlines. "It's now time to get down to work, and we want to reassure you of our dedication to working actively to promote the targeted sectors. We therefore undertake to manage the funds received efficiently, to respect the contracts with the micro-finance institution and to work towards achieving the objectives of the agropastoral and fisheries offensive", reassured the beneficiary.
Source: lefaso.net/
