(Business in Cameroon) - According to a decree signed on July 21, 2014 by the Cameroonian Prime Minister, Philémon Yang (photo), seven private Cameroonian and foreign banks and financial institutions will sit on the technical committee responsible for the implementation of the government’s emergency monitoring plan. The selected institutions are Standard Chartered Bank, Deutsch Bank Madrid, the Moroccan group, Alliance, BICEC of SCB Cameroon, Banque atlantique and Société générale Cameroon.

Alongside the representatives of the public administrations involved in the plan, these local and foreign banking institutions will contribute to “the implementation and monitoring of the execution of the government’s priority actions in specific sectors” such as health, agriculture, road infrastructure, energy, water, urbanisation and security in major cities.

Overall, the technical committee, now extended to include the private sector, will focus on “defining the strategic orientations to be adopted by the relevant sectorial structures and administrations within the framework of the implementation of the above-mentioned sectors; identifying and undertaking the specific projects to be adopted, their geographic implantation, in keeping with the sectors identified; conducting negotiations with the government’s technical and financial partners with the aim to raise the necessary funds to implement the emergency plan; selecting the Cameroonian PMEs and SMEs that are eligible to be a part of the plan based on specific objectives.”