The official visit of the French President to Cameroon on invitation of his Cameroonian counterpart will oil the long standing and diversified economic cooperation machinery between both countries.
Cameroon and France share long historical and bilateral relations which dates as far back as the colonial period. Cooperation between Cameroon and France is intense, rich and diverse. It covers many areas and is governed by multifaceted and multi-sectoral agreements signed and renewed over the decades since Cameroon’s independence. France being the world’s sixth largest economy power plays a pivotal role in Cameroon’s economic life as both nations collaborate in diversified areas of economic interest. Technical assistance, research, development projects financing, structural adjustments assistance as well as trade constitute the different areas of economic cooperation between the two friendly countries.
Debt Relief Programme, Structural Adjustment Assistance
Since 2002, France engaged Cameroon in a Debt Reduction Contract (C2D), created when Cameroon attained the completion point of Heavily Indebted Poor Countries Initiative, as a strategy for cancelling public development debt. The C2D was expected to write off FCFA 65 billion per year for 10 years. As it stands, the C2D programme has contributed circa FCFA 1,000 billion in the three different faces between 2003 and 2022. The funds were used in different domains notably agriculture and rural development, basic education, health, environment, urban and road development amongst others. The French Development Agency (AFD) has also been supporting infrastructure development through the “Regional Capitals” programme which helped to build 27km of road and 52 shops, complete the extension of two town halls in Bafoussam, Bertoua, Bamenda, Garoua and Maroua. It mobilized FCFA 90 billion to implement projects and address rural development, health and governance issues. Early this year, the government of Cameroon and AFD signed a loan agreement worth FCFA 201 billion to support the State budget and develop the cities of Yaounde and Buea.
Infrastructure Development
France has been very much present in Cameroon’s infrastructure drive. Giants projects like the second bridge over the River Wouri in Douala costing 150 billion euro, the Lom Pangar Hydropower Project, which is the largest power generation project in the country had FCFA 50 billion contribution from the AFD, the ongoing Nachtigal Hydroelectric Dam pro...
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