(Business in Cameroon) - During a Board of Directors meeting held on September 1, 2020, in Ngaoundéré, the regional capital of Adamaoua, the Special Fund for Equipment and Inter-Communal Intervention (Feicom) relieved part of municipalities’ debts.
Although the overall amount of the debts concerned by this relief has not been disclosed, the official release published at the end of the meeting informed that it represents 10% of the overall debts, except for municipalities in the Far North, North-West and South-West regions. The municipalities in these regions will be offered “special treatments,” the release added.
Indeed, the economic fabric of these three regions has seriously worsened because of the attacks of the terrorist sect Boko Haram (since 2013) and a separatist crisis (since late 2016). This thus affects the revenues of municipalities in these regions.
"For some of these municipalities, which are experiencing major operational difficulties due to unsustainable debt, more substantial relief has been granted," Feicom indicated without providing further details.