Home / Business / Cameroon secures 62b fCFA financial support from EU

Cameroon secures 62b fCFA financial support from EU

APA-Douala (Cameroon) The European Union (EU) said Monday it had finalized with Cameroon the formulation of financial package for development aid in the rural sector amounting to 62 billion fCFA for 2017-2019.

 
The aid, which will be approved in October, envisages a first disbursement of 19 billion CFA this year to support the development and modernization of the country’s rural sector.

According to the EU Delegation in Cameroon, the decision to strengthen partnership with Cameroon in this area should lead to sectoral reforms so the country could draw important resources to support its development.

 
This will include support for actions to improve agricultural productivity, as well as support for technical and commercial aspects.

Ultimately, the EU hopes that a better organization of the production chains will bring more balance to Cameroon; not only to better feed its population, but also to implement development projects.

APAnews

Check Also

Axe Douala-Yaoundé: la circulation rétablie à Ebombe

Après l’affaissement hier de la buse à Ebombe sur la nationale numéro 3, les travaux …

7 comments

  1. Financial package for development aid in the rural sector situated just below the thorax and made up of the biggest large and small intestines, with ferocious digestive functions and the resulting waste is transported back to a European bank toilet!

  2. Bit of a slow and insiy pincy (small ) part rebate of the CFA treasury from French and European coffers or maybe its just part interest payments ?
    However ,why always production ? Its the logistics of poor roads and thus expensive transport ( in comparison to products wholesale price )that create loss of production to market .The internal market to market cant expand unless that internal problem ,the roads , gets better,and not just the main ones .

  3. Great deal. We are waiting for 40 billion in the south region to distribute among those on the president’s neck asking him to release all the betis in prison.

  4. Then the petrol money from Limbe and Bakassi will be able to pay it back to the EU. Afterall the president would must have been no more to answer any questions from whosoever.

  5. Seeing the way Cameroon government and their cohort spend money on very stupid things. which nation is even more stupid to borrow them money? Do they really want us to believe that these loans have any good intentions? I see some people applauding…well, no further comments.

  6. With all the wahala the country is facing, one would have to think that such loans
    or ideas be given a break for the time being.
    It is some of the problems that the people are complaining about, and they get
    killed, on voluntary exile, etc etc.
    How then, are biya`s friends, imposing themselves, their ideas etc on a sovereign
    people who think they are mattured enough, to move forward without being neld
    by the hand?

  7. Build a robust infrastructure system and see the economy take flight like a bird. Rural population would greatly appreciate it if their products can reach every part of the country with little effort at a reasonable time frame, at the lowest cost possible. But in one part of the country food is thrown away, while in other parts people die of hunger.