Congo plans to invest 100bn FCFA to promote cultivation, industrialization of bamboo

The National Development Fund of Congo’s Chief Executive Officer, Huo Kouyin has expressed interest to pump out fund of around 100 billion FCFA to promote cultivation and industrialization of bamboo. The plan is intended to make this sector a pillar of the green economy in the country.

The press release reports that the memorandum of understanding (MoU) for this project was signed on January 8 in Brazzaville, between Huo Kouyin and the Minister of Congo’s Forest Economy, Rosalie Matondo.

“This project, worth nearly 100 billion FCFA, will provide more than 5,000 jobs for the Congolese. It will therefore reduce poverty and contribute to the social and economic development of the country,” reveals the press release.

The National Development Fund of Congo aims to materialize the initiative to develop the bamboo sector, by building bamboo groves (bamboo plantations), APA News noted. This bamboo will be exploited and marketed in order to be valued through the establishment of factories for processing bamboo into cuttings, food, textiles and many other finished products, our source.