France grants Cameroon a loan of 80 billion FCFA for decentralization

France has granted a loan of 80 billion FCFA to Cameroon, to permit the country continue implementing its decentralization policy initiated a few years ago.

The funds were given to some municipalities as part of the agreement signed by the Ministry of Finance and Decentralized Territorial Communities.

It includes the urban communities of Bafoussam (West), Bertoua (East) and Garoua (North), where funds put at their disposal, should permit the development of these cities; all of them being regional capitals.

The release of these funds falls under the agreement signed on July 3, 2015 in Yaoundé, between the Ministry of Economy, Planning and Regional Development (MINEPAT) and the Agence Française de Développement (AFD) before the heads of state of Cameroon, Paul Biya, and of France, François Holland, while the latter was on a state visit to Cameroon.

This signature was followed by a portion of the AFD sovereign loan, a little more than 40 billion FCFA, to urban communities of Bafoussam, Bertoua and Garoua.

These same municipalities have received funds contract for debt and development (C2D) referred to as "Capitals", also estimated at 40 billion FCFA, and a total 80 billion FCFA which will be used to implement the program of development of the above mentioned regional capitals.

More than 70 per cent of these funds relate to the rehabilitation of urban roads.