This new governance instrument, which contributes to the revision of the ECCAS Financial Regulation, aims to regulate the procurement process in the regional bloc and institutions of the sub-region.
It will also strengthen the fiscal principles necessary for good financial governance, and provide States with new sub-regional regulatory instruments that will strengthen integration, the business climate and harmonize the general framework of public policies in ECCAS.
ECCAS is the largest economic community in Central Africa, gathering the Member States of the Central African Economic and Monetary Community (CEMAC) – Gabon, Cameroon, the Central African Republic (CAR), Chad, Congo Brazzaville and Equatorial Guinea – and those of the Economic Community of Great Lake Countries (Burundi, Democratic republic of Congo and Rwanda).
Other resolutions adopted during the ministerial meeting last weekend in Libreville, Gabon, include the new Financial Regulation, the arrangements for liquidation, recovery and management of the Community integration contribution, the reinforcement of the budgetary and accounting control mechanism of the bloc and institutions of the community by the Courts of Accounts, Justice, the Community Parliament as well as the financial controller and the internal auditor.
The experts also introduced a planning, programming, budgeting and monitoring-evaluation chain within the institution.