BDEAC to invest 124bn FCFA in CEMAC’s 4 countries

The Development Bank of the Central African States has recently announced that it would invest 124 billion FCFA for projects in the sectors of agriculture, agro-industry, hotels, energy and finance in four countries of the Economic and Monetary Community of Central Africa (CEMAC).

"The board of directors approved the mobilization of resources in the amount of 174 billion FCFA, including 124 billion FCFA for the financing of projects and 41 billion FCFA intended for the community operating budget," the President of Development Bank of the Central African States (BDEAC), Fortunato-Ofa Mbo Nchama revealed in a press release.

He specifies that the countries concerned by this funding are Cameroon, Congo, Gabon and Equatorial Guinea, APA News noted. The BDEAC's 2020 budget for investments in the CEMAC zone, slightly up on that of 2019, is part of the pursuit of reforms within this financial institution and takes account of increasing demands. States and economic operators of the countries, as well as the current economic environment of the sub-region.