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CEMAC in search of 3500 billion FCFA in Paris to finance 11 integrated projects

The Central African Economic and Monetary Community CEMAC is organizing a two-day fundraising roundtable that opens on November 16, 2020 in the French capital. More than 3,500 billion FCFA to be collected over two days. This is the challenge that the six countries (Cameroon, Congo, Chad, Central Africa, Gabon, Equatorial Guinea) of the Economic and Monetary Community of Central Africa (CEMAC) want to meet to finance its 11 integrative projects.

To achieve this, it is organizing, from November 16, 2020 in Paris, a round table with donors, dedicated to raising funding that will be in the form of donations, concessional loans and public-private partnerships.

The work is chaired by the Congolese President, Denis Sassou Nguesso, also president dedicated to the Economic and Financial Reform Program of CEMAC (PREF-CEMAC). The institution is talking about mobilizing funds to finance 11 projects under the CEMAC 2017-2020 Regional Economic Program (PER), which includes 84 projects.

The 11 priority integrative projects that were chosen for this round table were chosen for their high degree of maturity and preparation, says CEMAC. They relate to regional transport corridors, energy production and interconnection, the single market, the free movement of goods, services and people and human capital as well as economic diversification.

These flagship projects should ultimately make it possible to accelerate the physical and commercial integration of the region in the long term. This fundraising comes almost a year after the extraordinary CEMAC summit on November 28, 2019 in Yaoundé.