Cemac Head of State sets FCFA 170 billion budget for project integration

Published by Nana Cums Com on March 18, 2023 at 05:57.

This is one of the strong resolutions made at the CEMAC Summit that just ended in Yaounde.

The 15th Regular Session of the Conference of Heads of State of the Central African Economic and Monetary Community (CEMAC) delivered a copy. As expected, strong decisions were made in the direction of improving the living conditions of the people, but they were also able to develop and industrialize this sub-region. At this last point we can see that an envelope of 1.7 trillion CFA francs has been set aside for their financing for the second wave of integration projects.

We don’t yet know what projects will be listed in this second series, but we do know that there are 15 projects and will cover the period 2023-2025. These were considered during the work of the 6th meeting of the Technical Committee responsible for mobilizing funding and monitoring the implementation of his CEMAC’s 11 priority integration projects. This was done last February in Brazzaville, Congo.

In terms of financing this second wave of projects, which will provide infrastructure to contribute to CEMAC’s economic development, member countries are co-financing following the example of the first project. According to information released at the end of the Brazzaville conference, a future roundtable scheduled for November next year has already been announced, during which various projects will be announced with technical and financial partners in the subregion as well as private investors. will be submitted to.

Recall here that the first wave of CEMAC integration projects consists of 11 ongoing projects. To date, 70% of these projects have been initiated. This development was observed almost three years after the Paris funding roundtable, where the CEMAC countries have raised 2,492.6 billion CFAF (€3.8 billion), exceeding the 2,205 billion CFAF required for the implementation of the aforementioned project. collected.