Cameroon and the European Union have signed a convention worth 6 billion FCFA to facilitate technical cooperation ventures. The convention was signed on Tuesday the 6th of June 2017 in Yaoundé. The Francophone dominated government of Cameroon was represented in the signing ceremony by the Minister of Economy Planning and Regional Development, Louis Paul Motaze while the Head of the European Union Delegation to Cameroon François Collet put pen to paper on behalf of the EU.
According to the terms of the four year cooperation, Cameroon will make a contribution of one billion FCFA and the European Union will provide the lion’s share of five billion FCFA. The Coordinator of the European Development Fund Aliou Abdoullahi revealed that the first part of the funding will finance studies and provide technical assistance. He also pointed out that the second installment will be used to drive the support unit of the National Authorizing Officer and the third disbursement will finance visibility and communication of the EU Cameroon Partnership and in the form of subvention grants.
The convention is within the framework of government’s fight against poverty and the enhancement of sustainable Development.