(Business in Cameroon) - Germany agreed to provide a grant of €60 million, or about CFA39.3 billion to support development projects in Cameroon between 2023 and 2024. According to the deal signed last May 31 in Berlin by Cameroon's Minister of Economy, Alamine Ousmane Mey, and the State Secretary at the German Federal Ministry for Economic Cooperation and Development (BMZ), Jochen Flasbarth, the funding will mainly be oriented toward sustainable natural resource management, rural development, governance, decentralization, peace, and social cohesion, as well as health, social protection, and demographic policy.

€20 million (about CFA13.11 billion) will be allocated under the financial cooperation, and the remaining €40 million (about CFA26.2 billion) will be dedicated to technical cooperation, we learn. This new disbursement is expected to further boost the active project portfolio of Germany in Cameroon which is currently estimated at €382 million (approximately CFA250.21 billion), according to Cameroonian authorities.