Business in Cameroon | From June 22, 2006, when the first Debt Reduction-Development Contract (C2D) was signed with France, to date, Cameroon has obtained debt remissions estimated at XAF695.5 billion. This was revealed by Finance Minister Louis Paul Motazé, on March 16, 2021, in Yaoundé during the 14th session of the C2D Steering and Monitoring Committee.
Thanks to these remissions under the C2D, Cameroon was able to fund programs and projects to the tune of XAF675.3 billion, official sources explain.
“The funds facilitated the implementation of programs and projects in focus areas such as agriculture and rural development, infrastructure and urban development, sectoral budgetary support, governance, and capacity building, etc.,” Minister Motazé said.
According to the official, by the end of the third C2D (signed in 2016) in 2025, Cameroon would have obtained XAF967.4 billion of debt remissions from France. It will therefore be the largest beneficiary of this initiative aimed at supporting fragile economies.