logoBC
Yaoundé - 26 February 2024 -
Public management

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.

BRM

cameroon-s-minister-of-energy-asks-for-patience-over-power-cuts-until-march-2024
For over two months, households and businesses across seven of Cameroon's ten regions connected to the Southern Interconnected Grid (RIS) have been...
cameroon-waives-import-duty-on-190-000-tons-of-rice-from-india-to-combat-rising-prices
To facilitate the import of 190,000 tons of rice from India in March and April 2024, the Cameroon Government has offered a special incentive to importers...
china-remained-cameroon-s-leading-supplier-in-2022-despite-minor-market-share-dip
The National Institute of Statistics recently issued a statement, providing data on Cameroon’s trade exchanges in 2022. According to the document,...
cameroon-s-lng-earnings-soar-by-148-8-in-2022-ins
Cameroon experienced a "spectacular" surge in revenues from liquefied natural gas (LNG) exports in 2022, data from the national stats agency INS showed....

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 »