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AFD invests 146b fCFA in Cameroon – Report

APA-Douala (Cameroon) The French Development Agency (AFD) investment in infrastructure, education and job creation in Cameroon amounted to 146 billion CFA during the financial year 2016, the agency said in a report.

In its 2016 annual report, copied to APA, ADF cited, among others, the Debt and Development Contract (C2D), sovereign and non-sovereign loans and grants.

Other resources from the French Global Environment Facility (FFEM), European Union fund delegations and funding for French NGOs (non-governmental organizations) were also mentioned.

Cooperation between Cameroon and France in 2016 was also marked by the signature of the third part of the C2D for a total amount of 400 billion CFA.

It focuses on two priority areas, the first of which is related to agriculture and rural development, with an emphasis on the transformation and enhancement of agricultural products by the private sector; while the second is related to urban infrastructure, particularly the development of certain urban metropolises.

APAnews

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3 comments

  1. This smacks of creating a chronic dependency syndrome! It has been going on for so long that someone ought to consider a change of course.

    Let us look at research. A researcher, based on his/her area of competence or expertise, formulates a request for funding that will enable exploration of new frontiers in the given area of expertise. Such a proposal summarizes what has already been done by peers and tops it with the new knowledge present request will contribute or problem to be solved.

    Only then does a funding agency approve and send out hard-earned money. Even after that the researcher is in duty bound to send a report, together with a publication in an arcane journal of the findings and how they contribute to human advance. That is accountability. That takes society ahead.

  2. How come that we have about 50% of our foreign reserves in the French treasury for which we receive no interest and yet, France is investing in our development?

    We don’t need these insidious investments. Let the French treasury return all our foreign reserves that have been looted and buried in their rich coffers.

    What is the point of giving us a pinch of our money, shrouded in the evil cloaks of investments? A continuous attempt by the master to keep us looking up to them when in reality they are the ones feeding off of us. We will inevitably have to repay every dime several times over, when in essence the money is ours from the very onset.

  3. These are some of the things we are refusing, and some are calling for dialogue,
    something far from the point.
    Once we miss this wind of change like in the past, we are finished.
    Do we remember, that loans etc to that country, span out to 99 years?