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Cameroon Secures $21.5mln for Phase 2 of Regional Capitals Program

Monday, 17 June 2024 13:07
Cameroon Secures $21.5mln for Phase 2 of Regional Capitals Program

(Ecofin Agency) - As an integral part of Cameroon-France cooperation, the Debt Reduction and Development Contract aims to transform part of Cameroon's debt to France into financing for development projects. The program targets sectors such as health, urban development, justice, education, agriculture and security.

Cameroon has secured a €20 million ($21.5 million) financing agreement with France for Phase 2 of the "Regional Capitals 1" program. This initiative, part of the Debt Reduction-Development Contract (C2D), aims to improve living conditions in Bertoua, Bafoussam, and Garoua by enhancing urban planning and the attractiveness of these cities.

Phase 1 had previously mobilized €125 million ($133 million) for the same cities. According to a statement from the French Development Agency (AFD) reported by Business in Cameroon, Phase 2 will include market improvements, the construction of a bus station in Bertoua, additional roadworks in Bafoussam, and supplementary water access facilities in Garoua.

The C2D program began in 2006 and has undergone three phases in 2006, 2011, and 2016. Initially focused on improving basic services and access in Yaoundé and Douala, it later expanded to regional capitals including Maroua and Bamenda.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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