Cameroon receives FCFA 185 billion EU fund

The Minister of Economy, Planning and Regional Development, Emmanuel Nganou Djoumessi has received in audience Ambassador Francoise Collet on behalf of the European Union (EU) in Yaounde.

The audience sought to lay a framework on how 185 billion CFAF EU fund will ensure good governance and development in Cameroon.

The meeting of Wenesday, 28th October 2014 was a forum for the 11th European Development Fund(EDF) agreed by Brussels in favour of Cameroon, will be effectively executed between 2014 and 2020.

As a fall out of the meeting, it was revealed that the previous EDF in Cameroon complements the bilateral corporation between Cameroon and the EU leading to an 11 per cent increase in development as compared to the previous years.

The both parties agreed that the fundamental points of the 11th EDF are governance and rural development.

It was revealed that if EU projects are effectively and efficiently executed in intented areas, the impact will be felt in the Growth and Employment Strategy Project.

The EU corporations with Cameroon is to ensure good governance, respect of human rights and the promotion of democracy as a tool to help Cameroon emerge by 2035.