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A CFA65bn Fund is under consideration to preserve the Congo basin

A CFA65bn Fund is under consideration to preserve the Congo basin
  • Comments   -   Friday, 03 March 2023 16:07

(Business in Cameroon) - The Congo basin will soon benefit from a €100 million (about CFA65.5 billion) fund to roll out preservation actions. The decision was announced this week by French President Emmanuel Macron, who co-chaired the One Summit Forest conference in Libreville, Gabon, with his Gabonese counterpart Ali Bongo Ondimba.

Emmanuel Macron said several donors will participate in this financing operation for the benefit of the 15 Congo Basin countries, including Cameroon. These include the Walton Foundation, which pledged €20 million, a little over CFA13 billion, and the Conservation International Foundation (€30 million, or CFA19.6 billion). The remaining amount will be provided by France, we learned.

Other initiatives were also presented during the two-day conference. Dieudonné Evou Mekou, President of the Development Bank of Central African States (BDEAC), took the opportunity to promote the Congo Basin Blue Fund, which is hosted by the sub-regional financial institution. "The Congo Basin Blue Fund is the main financial tool of the Congo Basin Climate Commission (CCBC). Its objective is to mobilize the necessary resources from contributors and investors, to finance the implementation of programs and projects contributing to sustainable development and the promotion of the blue economy," he said, calling on potential donors to invest in the Fund.

Michel Ange Nga     

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