CEMAC raises €3.8 billion in Paris for infrastructure development
The Economic and Monetary Community of Central African Countries raised €3.8 billion at a two-day round table in Paris. The Funds are destined to finance the bloc’s Regional Economic Program meant to boost growth by 2025.
The program comprises 84 projects, including 11 presented as priority integrating projects. The total cost of these projects has been estimated at €4 billion.
This involves modernizing the road networks linking several CEMAC countries, developing energy production and interconnection, and developing fiber optic in the sub-region, which is indeed lagging far behind in terms of the speed of IT flows. The projects also include the construction of dry ports to relieve congestion in seaports and shorten delays in trade. In short, these projects will thus facilitate and accelerate the free movement of goods and services between member countries.
CEMAC, the least developed sub-region of the African continent, musters Cameroon, Gabon, Equatorial Guinea, DRC, Sao Tome and Principe and Chad.