Europe > Western Europe > France > Cameroon and France sign contract on development and debt reduction

France: Cameroon and France sign contract on development and debt reduction

2016/07/04

Cameroon and France have signed a third arrangement for development and deficit reduction (C2D).

The intended all for financing of the projects is estimated at 400 billion CFA francs. A significant all in relation to the cumulative sum of the initial two C2D which amounted to 566 billion francs.

Minister of National for Development and Francophone, Andre Vallini recently visited Cameroon for the signing of the arrangement aimed at supporting the country’s development.

Cameroon Minister of economy Louis Paul Motazé explained that the money will be used for rural development, infrastructure and the development of secondary cities in the far north region of the country facing insecurity.

The signing of the third arrangement was announced during the last trip of François Hollande, to Yaoundé in July 2015. While Paris is accused of having favored the French companies for the execution of the initial two C2D, Holland has indicated that the third arrangement would a benefit the business community in Cameroon.

Vallini as well visited Douala to inaugurate major urban development projects and sing an agreement with the urban community on the Douala sustainable city project.

He as well inaugurated the new premises of the pasteur center of Cameroon for clinical Research on Malaria.

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