logoBC
Yaoundé - 28 November 2022 -
Environment

Cameroon obtains XAF6.5 billion from Germany for reforestation projects

Cameroon obtains XAF6.5 billion from Germany for reforestation projects
  • Comments   -   Friday, 02 July 2021 14:10

(Business in Cameroon) - On June 29, 2021, Minister of Economy Alamine Ousmane Mey signed a €10 million (XAF6.5 billion) financing agreement with German bank KFW for the restoration of degraded landscapes and reforestation projects in Cameroon. According to official sources, the beneficiary projects fall within the framework of the Forest and Environment Sectoral Program Project (FESP).

Thanks to the fund, specific actions will be carried out, over 46,000 hectares, in the North and Far North that are threatened by desertification. This financial support provided by Germany will help Cameroon partially fulfill the commitment it took to restore 12 million hectares of forest by 2030. This commitment was taken in the framework of the “Bonn Challenge”, an initiative launched in 2011, in Bonn, during an event organized by Germany and the International Union for Conservation of Nature (IUCN).

Cameroon’s commitment was part of a global pledge to restore 150 million hectares of degraded lands by 2020 and 350 million hectares by 2030. According to the IUCN, the country’s pledge was the most important obtained in the Congo basin, which is species-rich and hosts the world's second-largest forest massif.

BRM

cameroonian-customs-seize-600-counterfeit-jerseys-made-in-china
Cameroonian customs seized a total of 600 counterfeit jerseys of the Indomitable Lions. The seizure was made during the control of the stores of the...
cameroon-2023-state-budget-expected-to-be-cfa6-345-1bn-up-4-4
The Cameroonian government proposed a state budget of CFA6,345.1 billion for next year. Pending validation by MPs, the 2023 budget is expected to be 4.4%,...
mufid-union-lays-plans-to-become-an-agricultural-financing-leader
During its ordinary general assembly meeting on October 29, 2022, MUFID Union, the association of Cameroonian financial mutuals, reviewed the actions to...
cameroon-finance-minister-says-collection-of-ad-fees-from-companies-is-illegal
The Cameroonian Finance Minister (Minfi), Louis Paul Motaze (pictured), said in a recent note that the collection of ad fees from companies by...

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 »