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Yaoundé - 14 December 2017 -
Development aid

AFD details how Cameroon is to use €70 million it disbursed in November

AFD details how Cameroon is to use €70 million it disbursed in November
  • Comments   -   Sunday, 03 December 2017 17:26

(Business in Cameroon) - The French development agency (AFD) provided on November 30, 2017, details regarding the use of the two financing facilities worth a total of €70.3 million (about CFA46.2 billion), that it granted Cameroon in November.

Indeed, the agency explained in the framework of a  3-year budget support (2017-2019), the first agreement of €60 million ( CFA39.4 billion)  will help enhance the competitiveness of private companies, fund some of the country’s priority expenditures in education and health sector and improve the management of public revenues, in the context of the new financial regime.

The expected results are namely, the construction of more than 1,000 classrooms, technical and financial assistance to more than 350 companies and sales of an additional 100,000 health-care vouchers.

The second agreement valued at €10.3 million (CFA6.8 billion) is to reinforce coordination between the participants and the transversal monitoring of the debt reduction and development contract (C2D), in order to facilitate its implementation, maximize and valorize its results.  

These conventions were signed in November 2017, in the framework of the third C2D (signed on June 30, 2016, by Cameroon and France) which will provide €611 million (CFA400 billion) to Cameroon by its end.

S.A

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