More than 2800 billion of loan still to be disbursed

Dieudonné Evou Mekou, the Director-General of the Autonomous Sinking Fund (ASF), said that the more than 2800 billion FCFA of loans made available to the Cameroonian state by the international donors, are slow to be disbursed.

“This cumulates to an outstanding debt of 3800 billion FCFA, that is still considerable and perfectly reflects the magnitude of the problem of under consumption of investment credits,” explained Mr. Evou Mekou in an interview with the government daily.

At the origin of this under-execution of foreign borrowing to finance development projects in the country, several experts put at the index the complexity of disbursement procedures imposed by some donors, and which are not always well understood by the project managers while also pointing the finger, at the multitude of such procedures, which generally change from one funder to another.

These many pitfalls that cause significant damage to public finances, including the fact that growth forecasts related to the implementation of certain strategic projects cannot be finally achieved.

But above all, stressed the DG of CAA, the under-execution of external borrowing led to the "rising price of finances, mobilized for projects, through increases in the loads such as the fees paid for a long time, as well as higher commitment (because they are) seated and proportionate to the not yet disbursed amounts. To solve this problem whose consequences is felt throughout the economy, CAA, with the financial and technical support from the World Bank, has just set up a "Manual for simpl