Yaoundé - 26 February 2024 -

Paris roundtable: CEMAC surpasses funding target with €9.2bn for regional integration projects

Paris roundtable: CEMAC surpasses funding target with €9.2bn for regional integration projects
  • Comments   -   Friday, 01 December 2023 02:42

(Business in Cameroon) - The funds pledged exceed the regional institution's initial target of €8.8 billion to finance infrastructure projects aimed at enhancing regional integration and economic diversification.

CEMAC announced securing investment promises of €9.2 billion (about $10.04 billion) for thirteen regional integration projects during a roundtable held on November 28 and 29 in Paris.

"€9.2 billion has been pledged to CEMAC, representing 104% of the initial target of €8.8 billion," stated Michel-Cyr Djiena Wembou, the Permanent Secretary of the Steering Committee for the CEMAC Economic and Financial Reforms Program (Pref-Cemac), at the conclusion of the roundtable involving international donors and investors.

Over two days, CEMAC officials presented thirteen "integrative" projects, including roads, a dry port, railway lines, and electrical interconnection infrastructures, to investors and techno-financial partners. These projects, part of the "infrastructure" component of the Regional Economic Program (PER), aim to boost regional trade, increase local processing of natural resources, further industrialize economies, and enhance resilience to future shocks.

In the first edition of the roundtable for international investors held in November 2020, CEMAC secured commitments of €3.8 billion, surpassing the targeted €3.3 billion.

For over two months, households and businesses across seven of Cameroon's ten regions connected to the Southern Interconnected Grid (RIS) have been...
To facilitate the import of 190,000 tons of rice from India in March and April 2024, the Cameroon Government has offered a special incentive to importers...
The National Institute of Statistics recently issued a statement, providing data on Cameroon’s trade exchanges in 2022. According to the document,...
Cameroon experienced a "spectacular" surge in revenues from liquefied natural gas (LNG) exports in 2022, data from the national stats agency INS showed....

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 »