The Central African Economic and Monetary Community (CEMAC) mobilized 3.8 billion euros during the meeting with bilateral and multilateral partners. An envelope intended to finance eleven integrative programs to boost development in this part of the continent.
The delegation of the Economic and Monetary Community of Central Africa participated on November 17 and 18, 2020 in the round table of investors in the French capital and returned to the fold with a full bag. This is the least that can be said in view of the jackpot garnered in front of bilateral and multilateral partners, since CEMAC, which initially counted on an envelope of 3.4 billion euros, or 2,230 billion FCFA, was finally able to collect 3.8 billion euros, ie 2,492.6 billion FCFA.
Funds which constitute a real breath of fresh air for the realization of eleven so-called integrative projects in the six member countries over the period 2021-2025. The community bodies already had 596.74 million euros (approximately 392 billion FCA) which represents their share which represents barely 14.65% of the estimated budget, have something to consider happy especially since this meeting intervenes in a difficult economic context reinforced by the health crisis linked to the Coronavirus pandemic.
For the Steering Committee of the Economic and Financial Reform Program of the (PREF-CEMAC), the objective is to invest in development infrastructure and to contribute to peace, stability and harmony between peoples, which would allow waiting for the desired economic emergence. The choice of the eleven priority integration projects for stems from their high degree of maturity and preparation. Aligned with the African Union 2030-2053 agendas and the United Nations Sustainable Development Goals (SDGs), their achievement will accelerate the region’s physical and commercial integration. They are fully
According to sources familiar with the matter, this financing consists of loans at concessional rates, loans and grants. We also note the participation of private investors through the Public-Private Partnership (PPP) adopted for the realization of certain projects as well as Islamic finance. Beyond political procrastination, Central Africa, which is presented as the least integrated region, also owes its delay to the glaring inadequacy of infrastructure.
CEMAC’s 11 integrative projects
– Construction of a bridge over the Ntem river and facilitation of transport, and road safety on the transnational Kribi-Campo-Bata road linking Cameroon and Equatorial Guinea
– Construction of the Lolabe-Campo expressway (40 km) between Cameroon and Equatorial Guinea
– Construction of the Ndende-Doussala road (144 km) between Gabon and Congo
– Construction of the Kogo-Akurenam road (South-East Equatorial Guinea – Gabon)
– Brazzaville-Ouesso-Bangui-Ndjamena Corridor (Congo / RCA / Chad)
– Chollet hydroelectric development and power lines (Cameroon / Congo / Gabon / RCA)
– Interconnection of electricity networks (Cameroon – Chad)
– Interconnection of Cameroon with CEMAC countries by optical fiber
– Construction of the Beloko dry port (Douala – Bangui Corridor)
– Construction of the dry port of Dolisie (Gabon – Congo Corridor)
– Inter-State University (Cameroon – Congo)