Yaoundé - 21 March 2023 -
Public management

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     

The President of the Central African Republic, Faustin Archange Touadéra, has pledged to respect the rules governing the financial environment of the...
During their latest meeting last March 17 in Yaoundé, the Cemac Heads of State decided on a gradual revision of the monetary cooperation framework with...
The volume of bank credit received by large companies in the Cemac region dropped by 18.2% year-on-year in the third quarter of 2022, official Beac data...
The Cameroonian Hygiene and Health Company (Hysacam) explained, in a statement published this week, the reasons behind the recent disruptions in its waste...

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 »