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Wednesday, 13 September 2017

Germany releases FCfa 89 billion in aid for Cameroon

Hans-Dieter Stell, Ambassador of the Federal Republic of Germany in Cameroon, and Louis Paul Motaze, Cameroonian Minister of Economy, signed on 31 August 2017 in Yaoundé, the capital of the country, a technical and financial cooperation agreement for a total of FCfa 89 billion. Part of this global funding, i.e. FCfa 66 billion, will be used, we officially learned, to finance projects related to the sustainable management of natural resources, governance and decentralisation, rural development, health and public civil engineering works. The remainder of the funding, which is a donation from the Federal Republic of Germany to the State of Cameroon, representing FCfa 23 billion, will be used to fight infant mortality in the Eastern region as well as the three northern regions of Cameroon. This funding will also be used to support the mechanisms to manage the Central African and Nigerian refugees currently staying in Cameroon.

Source: www.businessincameroon.com