logoBC
Yaoundé - 28 March 2024 -
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

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 »