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Cameroon’s Economy Minister calls for more engagement in the realization of projects

The Minister of Economy, Planning and Territorial Development spoke during a virtual meeting with the Multilateral Investment Guarantee Agency on October 15, 2020. The 2020 Annual Meetings of the IMF and of the World Bank Group have been held since October 7, 2020. In view of the health crisis linked to the Covid-19 pandemic, the meetings are taking place by videoconference.

On the sidelines of the work, the Minister of Economy, Planning and Territorial Development, Alamine Ousmane Mey, Governor of the World Bank for Cameroon, had a virtual meeting, on October 15, 2020, with the Vice -President of the Multilateral Investment Guarantee Agency (MIGA), Hiroshi MATANO.

The meeting enabled the two personalities “to discuss projects in Public-Private Partnership mode, for which MIGA could provide its guarantee in Cameroon. The Governor of the World Bank for Cameroon took this opportunity to present the country’s priorities in terms of investment, particularly in the fields of energy, transport, telecommunications and agribusiness, aimed at supporting the private sector to the creation of wealth ”, indicates the Ministry of the Economy.

Alamine Oousmane Mey also expressed the government’s gratitude to the MIGA authorities for the efforts made to support Cameroon within the framework of the Nachtigal hydroelectric dam project (420 MW) and other energy projects, with a view to reducing the country’s energy deficit.

MINEPAT has especially made a plea for a stronger commitment of MIGA in favor of development projects in Cameroon and the Central African sub-region.

MIGA is an Institution of the World Bank Group. It encourages foreign private investment in its member countries, by granting them cover (guarantees) against non-commercial risks and advisory services to Governments. It is for this reason that Cameroon, within the framework of the implementation of some of its development projects, benefits from the support of this Institution with a net volume of risk exposures estimated at around 340 billion FCFA, specifies the digital platform of MINEPAT.