Development of the local economy EU donates 33 billion CFA francs to Cameroon

From the information provided by the national bilingual newspaper Cameroon Tribune we have learned that the country once again benefits from a donation of the European Union for the development of priority value chains.

The EU has reportedly made a sum of 50 million euro available to Cameroonor approximately 33 billion CFA francs. This is the result of the signing at Yaoundéof a sector reform contract between the Minister of the Economy, of Regional Planning and Development (Minepat), Alamine Ousmane Mey and the Ambassador Head of the EU Delegation in the Republic of Cameroon Hans Peter Schadek.

In the newspaper, the EU diplomat stated that 'this extension (...) intends to deepen the reforms initiated in the first phase, gradually integrating the development dimension of certain priority economic segments, such as cotton, cocoa or aquaculture'. We also discover in this publication that for Hans Peter Schadek the contract is a breath of fresh air for the rural sector, but also for the management of public finances in Cameroon.

The benefits of partnership for the rural world

The government of Cameroon, through Minepatrecognises the benefits of this partnership agreement for the rural world. "This money contributes to improving the management of Cameroon's public finances, the quality of public spending and the implementation of structural reforms. In this way, our rural sector can closely support the creation of added value and jobs for young people and women,' says Alamine Ousmane Mey.

The partnership contract signed between the EU and Cameroon will be implemented in two phases, one part in 2020, half, and the other in 2021.

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