HomeIndustry SectorsFinance and PolicyCEMAC zone secures $213m for development projects

CEMAC zone secures $213m for development projects

The Board of Directors of the Development Bank of Central African States (BDEAC) has approved financing of integration projects amounting to XAF126 billion ($213 million) for Cameroon, Congo, Gabon, and Equatorial Guinea.

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The project portfolio will see investment predominantly in the energy sector, social housing, agro-industry, microfinance, and agropastoral sectors.

“Their implementation will not only significantly improve the quality of life of populations but also strengthen regional integration, particularly through interconnections of the electricity networks of Equatorial Guinea and Gabon,” BDEAC said in a statement in late December.

In addition, with these new financings, the Bank is reaching the most vulnerable populations in the CEMAC zone, notably with: job creation and access to decent housing for the most disadvantaged populations.

Finally, the Council proposed to the General Assembly to approve the admission of the Arab Bank for Economic Development in Africa (BADEA) to the capital of BDEAC.

Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.