logoBC
Yaoundé - 29 March 2024 -
Public management

Germany finances projects in 16 Cameroonian provinces- to the tune of 10 billion FCfa

Germany finances projects in 16 Cameroonian provinces- to the tune of 10 billion FCfa
  • Comments   -   Friday, 18 April 2014 02:39

(Business in Cameroon) - The German cooperative entity (KfW) has just announced that it will be granting 10 billion FCfa in financing to 16 Cameroonian provinces as a part of the “Feicom-towns Decentralisation Programme”. Conducted by the Special Inter-Provincial Equipment and Intervention Fund (FEICOM), the Cameroonian Provincial Bank assists eligible local communities with aid for business and non-profit entities.

For eligible provinces, this programme, which will end in 2018, includes provisions for areas inhabited by fewer than 50,000, which will receive between 200 and 650 million FCfa in financing. Provinces with more than 50,000 inhabitant will have their financing capped at 1.3 billion FCfa. Feicom’s Managing Director, Phillipe Camille Akoa, explains that, at the end of the process, new towns will be able to join the programme during the second phase.

Germany is one of Cameroon’s most important bilateral partners in decentralisation. German Ambassador to Cameroon, Klaus-Ludwig Keferstein, explains this involvement by noting that “it is important to have provinces and regional entities assume this responsibility as they are closest to the affected populations.”

eu-pledges-over-cfa12bn-for-entrepreneurship-and-electricity-access-support-in-cameroon
The EU agreed to disburse over CFA12 billion to support growth-driven projects in Cameroon. The two related deals were signed in Yaoundé on March 26...
central-africa-set-for-highest-economic-growth-in-a-decade-amid-inflation-concerns
Growth within the Cemac region is expected to peak at 3.6% this year, according to the estimates of Beac’s Monetary Policy Committee (MPC), which met on...
mtn-cameroon-sees-record-growth-with-cfa325-7bn-revenue-in-2023-amid-market-challenges
MTN Cameroon reported a robust revenue of CFA325.7 billion for 2023. According to data released on the Johannesburg Stock Exchange in South Africa, this...
cameroon-s-customs-enforces-air-cargo-regulations-threatens-fines-for-non-compliance
Edwin Fongod Nuvaga, the Director-General of Customs in Cameroon, has issued a reminder to airlines about their obligations to comply with standard...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »