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Japan pledges additional CFA1.3bn for NoSO reconstruction

Japan pledges additional CFA1.3bn for NoSO reconstruction
  • Comments   -   Tuesday, 14 March 2023 17:47

(Business in Cameroon) - Japan announced an investment of CFA1.3 billion to support the reconstruction of the war-torn Northwest and Southwest regions in Cameroon. The financing deal was signed last March 10 in Yaoundé between the Japanese ambassador to Cameroon and the resident representative of the UN Development Program (UNDP), the institution selected by the Cameroonian government to pilot the reconstruction plan.

According to available information, the resources will exclusively be dedicated to the Southwest region. Before this new contribution, Japan provided CFA1.5 billion for the reconstruction plan through an agreement signed on February 18, 2021.

During a press conference on July 8, 2022, in Yaoundé, Paul Tasong, who coordinates the plan, reported that the government managed to raise CFA11.5 billion in 18 months of plan rollout; 7.4% of the CFA154 billion needed to rebuild the regions. In detail, the State has mobilized 75% of the CFA11.5 billion. The private sector has contributed CFA1.2 billion, the United Nations Development Program (UNDP) CFA400 million, and Japan CFA1.5 billion (plus the additional CFA1.3 billion now). "We still expect support from other partners and other donors," said Paul Tasong.

Let’s recall that on February 6, President Paul Biya empowered the Minister of Economy, Alamine Ousmane Mey, to reach a loan agreement with the Islamic Development Bank (IDB) for the disbursement of CFA21 billion into the NoSo reconstruction plan.


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