The Technical Committee of partners and donors are meeting in Douala since Tuesday March 10, 2020 to discuss ways and means of sourcing funds to execute projects outlined by leaders of member states of the Central African Economic and Monetary Community CEMAC. The twelve intergrated projects in different sectors are geared towards accelerating development in the sub-region.
About 2.819 billion FCFA is needed to realize the projects. But only 256 billion FCFA has been mobilized by CEMAC countries and their technical and financial partners. An indepth study to examine how to bring the remaining money will be the key point of the Technical Committee when they converge in July this year.
The Douala conclave is a direct response to resolutions taken at the end of the CEMAC Extra Ordinary Summit of Heads of state and Governments in which the leaders decided to implement 12 priority integrated projects related to energy production and interconnection, the strengthening of the single market, the free movement of goods, services and people, the development of human capital and economic diversification.
Recommendations on mobilizing the technical and financial resources for the execution of these projects were handed down to the CEMAC Commission and the PREF-CEMAC steering committee. The six leaders of CEMAC comprising Cameroon, Chad, Congo, the Central African Republic, Equatorial Guinea and Gabon expect that these projects upon completion will guarantee the linking by tarred roads of all capitals and transport corridors, fluidity in the transportation of goods and services, the establishment of border posts and the creation of a label awarded to schools in the CEMAC zone following criteria set up by the Commission.