(Business in Cameroon) - Rémy Rioux, Head of the French Development Agency (AFD), signed Monday three financial deals with the Cameroonian Minister of Economy Alamine Ousmane Mey to support development projects in the Northern part of the country.

The deals will see the Agency provide CFA33.4 billion to modernize the industrial fabric of the cotton development corporation (Sodecoton), to implement the "Green and Resilient Northern Cameroon" project, and the Support Project for the Development of Agricultural Sectors (PADFA II). In detail, the capacity of the cotton company Sodecoton will be increased to 400,000 tons by 2025, while the agropastoral sector in the three northern regions (North, Adamaoua and Far North) will be made more resilient.

As a reminder, according to data from the Ministry of the Economy, the current portfolio of projects and programs financed by the French Development Agency in Cameroon is estimated at CFA396 billion.

BRM