The Cameroon government got a 54.9 billion FCFA loan from Standard Chartered Bank and the Private Export Funding Corporation to fund a project for setting up a communal park of civil engineering and hydraulic equipment. The financing agreements were signed at the amphitheater 300 of the Ministry of Economy, Planning, and Land Management on Wednesday, May 22nd, in Yaoundé. The loan includes a credit facility of $72,864,969.96 (equivalent to 43,718,981,976 FCFA) guaranteed by Eximbank USA and a commercial loan of $18,747,714 (equivalent to 11,248,628,400 FCFA). These funds will all be transferred to the Intercommunal Equipment and Intervention Fund (Feicom).
The project aims to improve maintenance of municipal roads and supply of drinking water throughout Cameroon by setting up five zonal bases for machinery in different regions of the country. Tiko caters to the Southwest and Littoral regions, Mfou for the Center and South regions, Manjo for the East and Adamaoua regions, Koutaba for the West and Northwest regions, and finally Maroua 1st for the North and Far North regions.
By acquiring 270 civil engineering vehicles and hydraulic equipment, this project aligns with the goals of Cameroon's National Development Strategy (SND30), which aims to promote decentralization and local development.
Reaction.
Francis Ngoumou, Mayor of Mfou, one of the leading municipalities
« This is really a hope for our communities because it's one of the constraints we are facing. Even if it's ten years later as we often say, better late than never. As one of the lucky beneficiaries, I can be satisfied that the municipality of Mfou is chosen because it is an unavoidable expense pocket with the traceability of our unpaved roads. At the moment, we are in a cycle of eternal repetition because after the rainy season, we have to redo the same activity without ever seeing the light at the end of the tunnel. We believe that providing a fleet of high-quality vehicles as proposed to our communities will break the vicious cycle, and it's an opportunity to thank the government of the republic for this excellent understanding of the issue of CTDs and the appropriate solutions being provided. ».
Alamine Ousmane Mey, minepat
« Cameroon in its national development strategy (SND30) where one of the pillars focuses on governance, decentralization, and strategic management of the state. Considering the results achieved, the aim is to speed up the process. Taking into account the time elapsed so far, from the years 2011, 2012, 2013, we are in 2024, almost 10 years working on this important project. Yes, we are pleased with the outcome we have reached, but we also have a duty to do even better to reduce the process and production time to a maximum of 5 years to achieve results expected by the grassroots populations facing various development challenges. ».
Clément Noumsi
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