Feicom disburses 11.7 billion FCFA to 60 Cameroonian municipalities

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Feicom disburses 11.7 billion FCFA to 60 Cameroonian municipalities

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- Wednesday, 18 March 2015 02:51

(Business in Cameroon) - The Special Fund for Equipment and Inter-Municipal Intervention (Feicom) has just granted financing totalling 11.7 billion FCFA to 60 municipalities seeking loans. The loans were approved during the 29^th session of the Feicom Financial Support Committee. This was revealed in a February 16 release by Cameroon’s municipal bank led by Philippe Camille Akoa.

The sum will be used to finance 64 projects initiated by the beneficiary municipalities. According to the breakdown published by the Municipal Bank, the West (20%) and Centre (17%) will receive 37% of the total amount.

They are followed by Extreme-North (12%), South (9%) and South-West (9%). The East region will get 8% while the North, North-West and Adamoua regions will each get 7%. The Coastal region will receive the remaining 4%.

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