On March 29, 2016, the government signed a US$45 million loan agreement with the African Development Bank (AfDB) to finance the Cashew Infrastructure Development Project (CIDP).
The project became effective on August 4, 2016, and was set to be undertaken over five years, concluding on June 30, 2022.
However, on June 1, 2022, the period was extended to June 30, 2023, to ensure the completion of infrastructure projects, which ended on December 31, 2023.
According to the 2023 auditor’s report, the total project cost was US$55.42 million, with USD 45 million financed by the AfDB loan (81.2%), the government counterpart funding of US$8.31 million (15.0%), and community or beneficiary contributions of US$2.11 million.
The report also indicated that at the beginning of CIDP, a target of improved household income of US$710 per household per year was set. However, during the period under review, income levels were 34% below the target.
The report further revealed that the failure to achieve income levels was attributed to the non-export of cashew nuts, as the target outcomes could only be reached when the crop attained peak production age.
During the period under review, CIDP set a target to increase the average cashew tree crop yield from 200 kg/ha in 2017 to 800 kg/ha in 2023.
However, as of December 31, 2023, yield levels were at 440 kg/ha, which was 45% below the target.
It was further indicated that the failure to increase productivity was due to the inadequate implementation of the rehabilitation and rejuvenation of old plants.
“The CIDP had a target of generating foreign exchange earnings of US$8 million per year. However, there were no foreign exchange earnings during the review period. The failure to earn foreign exchange was attributed to the non-export of cashew nuts.”
