France provides CFA46.2 billion to Cameroon in the framework of the 3rd debt reduction and development contract
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Comments - Thursday, 16 November 2017 00:45
(Business in Cameroon) - Louis Paul Motaze, Cameroon’s minister of economy, Gilles Thibault French ambassador to Cameroon and Christian Yoka, director of the French Development Agency (AFD) signed on November 15, in Yaoundé, two conventions providing CFA46.2 billion to Cameroon in the framework of the third debt reduction and development contract (C2D).
The first convention, which provides CFA39.4 billion, is for a triennial sector budget support (2017-2019) which aims to improve the workforce, enhance the competitiveness of private companies and modernize the management of public finances while the second convention which provides CFA6.8 billion is for the steering section of the third C2D.
The overall amount of this C2D is about CFA400 billion and, is essentially destined for social projects. The overall amount of the first two C2Ds were respectively CFA566 billion and CFA352 billion and, they were implemented in 2006 and 2011.
S.A
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