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Yaoundé - 28 May 2022 -
Economy

Feicom grants 45 communes CFA13.5bln for local development projects

Feicom grants 45 communes CFA13.5bln for local development projects
  • Comments   -   Friday, 29 April 2022 13:09

(Business in Cameroon) - The financial assistance committee of the Special Fund for Equipment and Inter-municipal Intervention (Feicom) announced it has validated the financing of new projects presented by 45 Cameroonian communes. The announcement was made public following the committee’s 43rd and 44th sessions held on April 26 in Yaoundé.

“After examination, Feicom agreed to grant a total of CFA13.5 billion via 60 financing initiatives based on the principle of balanced and harmonious development to the communes from all regions represented,” said Philippe Camille Akoa, MD of Feicom.

The projects to be financed relate to infrastructure development, governance, access to health care, sanitation, access to drinking water and services. According to official data, the Special Fund gathered a little more than CFA894 billion between 2006 and 2020 to support local development in Cameroon’s communes and urban communities.

Over the same period, we learned, Feicom invested CFA292 billion in 3,601 projects carried out in decentralized territorial communities. This reflects the key role Feicom plays in the public local development system.

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