(Business in Cameroon) - The Central African States Development Bank (BDEAC in French) closed 2015 with a net profit of slightly over FCfa 1.9 billion, we officially learned. The profit thus made shows an increase of 6.3% compared to 2014, our sources highlighted.

Disbursements for projects to be financed in the CEMAC community have also increased by 26.7% compared to 2014, at about FCfa55.2 billion as at 31 December 2015.

These releases of funds to enable the financing of development projects should again rise in 2016, thanks to the financial contribution made to BDEAC by the issuing institution of the six countries of the CEMAC area, the Central African States Bank (BEAC).

Indeed, the Governor of the BEAC, Lucas Abaga Nchama, and the President of BDEAC, Abbas Mahamat Toli (photo), signed on 19 January 2015 in Yaoundé, the Cameroonian capital, a set of “acts on the support of the BEAC to the BDEAC, for the funding of development project” within the CEMAC zone, for a total amount of FCfa 400 billion.

“This is the first time that the community’s issuing institution (which increased its shareholding in the capital of BDEAC from 6 to 33%, Ed.) is seriously committing itself to the refinancing of development projects in the member States”, who moreover specified that the establishment of these financial tools “will enable the BDEAC to fill the important gap observed between the resources and commitments of the BDEAC, but also to have additional substantial resources for the financing of new projects and programs”.

BRM