Rédaction Africa Links 24 with Esther FOSSI
Published on 2024-04-01 10:14:25
The signing of the financing agreements for the Economic Development Support Program through the Promotion of Value Chains and Private Initiative, and the Program to Increase Renewable Electricity Production Capacity took place in Yaoundé.
Alamine Ousmane Mey signed the financing agreements on March 26 in the presence of the Ministers of Water and Energy, SMEs, and Ambassadors of EU member states represented in Cameroon to support economic development and renewable energies in Cameroon.
19 million Euros, approximately 12.46 billion CFA Francs. This is the total amount made available to Cameroon by the European Union for the financing of two programs. The first program, “Support for Economic Development through the Promotion of Value Chains and Private Initiative,” receives a funding of 15 million Euros, approximately 9.84 billion CFA Francs.
This financing will support the competitiveness of national businesses through direct support; improve the business climate and facilitate access to financing for enterprises through a financing facility supporting the development of value chains.
The second program, “Support for the increase in renewable electricity production capacity,” receives a grant from the EU of 4 million Euros, approximately 2.62 billion CFA Francs, aimed at financing the development of electrical energy production capacities from renewable sources such as hydroelectricity, photovoltaic, and biomass.
This action specifically aims to promote renewable energies by enhancing electrical production capacities in areas with limited access to major interconnected networks under construction.
The two projects funded under the Neighbourhood, Development and International Cooperation Instrument (NDICI-Global Europe) are seen by the EU Ambassador, Head of Delegation, Jean-Marc CHATAIGNER, as direct support to Cameroon’s SND30, giving a concrete face to the discussions held during the Cameroon-EU Business Week.
Read the original article(French) on Journal du Cameroun
