(Business in Cameroon) - The Special Fund for Equipment and Inter-municipal Intervention (Feicom) announced the deployment of a CFA9.3 billion fund to boost local development in Cameroon. The resources will finance 60 projects in 54 communes, we learned.
Philippe Camille Akoa, who manages the Special Fund, said the projects will be piloted by the decentralized local authorities of the beneficiary communes. As a reminder, apart from these repayable financial contributions, Feicom is also in charge of redistributing regional taxes and levies subject to equalization, as well as additional municipal taxes and other communal and regional taxes subject to equalization. The entity also makes available to the beneficiary regions, municipalities, syndicates of municipalities, and urban communities, the corresponding shares of the General Decentralization Allocation determined by the government.
As such, this public body is one of the secular arms of the State of Cameroon in terms of financing local development.