Feicom distributed 63 billion CFA francs to municipalities in 2013

Special Equipment and Inter-municipalities Intervention Fund (Feicom), also known as the Cameroonian Municipalities Bank distributed to decentralized local authorities, a sum of over 63 billion CFA francs in 2013, sanctioned by the its previous board, reveals a statement.

From this point, we learn from the same source that the annual objectives have been achieved, at only 92%.

The estimated amount to be distributed to municipalities was voted in early 2013 at the amount of 68.6 billion CFA francs.

Moreover, without explaining the reasons for this performance below target, the Board of Directors of Feicom welcomes "good resource mobilization midterm fiscal 2014," since, June 30, 2014 "on estimated revenue of 52,921,444,383 CFA francs, 66,064,616,673 CFA francs were mobilized, a rate of 124.84%."