CEMAC: Bdeac approves CFA59bn for six new projects

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CEMAC: Bdeac approves CFA59bn for six new projects

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- Thursday, 11 May 2023 14:58

(Business in Cameroon) - The Development Bank of Central African States (Bdeac) approved the disbursement of a little more than CFA59 billion to support the implementation of six projects in the Cemac zone. The information was made public following a board meeting held on May 3.

"These new projects mainly target the transport, industry, agro-industry, real estate, and education sectors," the financial institution said without further details. According to the bank’s board of directors, the disbursement is in line with the 2023-27 strategic plan, one of the major axes of which is to support the diversification of the economies of member states.

Over the above-mentioned 5-year period, Bdeac aims to invest between CFA1,500 billion and CFA2,000 billion in development projects across the region. Over the previous 5 years, the amount invested was officially estimated at CFA1,268 billion.

BRM

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