Cameroon and France have signed a third contract for development and debt reduction (C2D). The intended amount for financing of the projects is estimated at 400 billion CFA francs. A significant amount in relation to the cumulative sum of the first two C2D which amounted to 566 billion francs.
Minister of State for Development and Francophone, Andre Vallini recently visited Cameroon for the signing of the contract aimed at supporting the country’s development. Cameroon Minister of economy Louis Paul Motazé explained that the money will be used for rural development, infrastructure and the development of secondary cities in the far north region of the country facing insecurity.
The signing of the third contract was announced during the last trip of François Hollande, to Yaoundé in July 2015. While Paris is accused of having favored the French companies for the execution of the first two C2D, Holland has indicated that the third contract would a benefit the business community in Cameroon. Read more this contract here.