Cameroon: Governmentt Secures FCFA 17.38 Billion World Bank Loan To Strengthen Public Expenditure Efficiency, Statistical System

Par Atia T. AZOHNWI | Cameroon-Info.Net
YAOUNDE - 19-May-2019 - 10h35   3323                      
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Minister Ousmane Mey & WB's Elisabeth Huybens Archives
The government of Cameroon has obtained FCFA 17.38 billion loan from the World Bank to finance a project intended to ameliorate the efficiency of public expenditure and system of statistics in Cameroon.

A loan agreement was signed last May 17, 2019 at the Conference room of the Ministry of Economy, Planning and Regional Development in Yaounde between the government, represented by Minister Alamine Ousmane Mey of Economy and the World Bank, represented by its Country Director, Elisabeth Huybens in the presence of Minister Delegate at the Presidency in charge of Public Contracts, Ibrahim Talba Malla and Minister Delegate to the Minister of Finance, Yaouba Abdoulaye.

In her speech, the Country Director of the World Bank, Elisabeth Huybens reiterated their determination to accompany government in the promotion of a highly performing public service that will improve the living conditions of Cameroonians via an efficient public expenditure and system of statistics.

She said “this project is the first Bank-financed project in a very long time that will have a focus on supporting reforms and institution building or more effective and efficient public finance in Cameroon which is crucial in assisting the government in achieving its 2035 Vision as well as reaching shared growth, reducing poverty and creating jobs thanks to an increased industrialization, improved productivity and strengthened governance.”

The Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey while expressing government’s gratitude to the World Bank for their constant support, explained that “we have a portfolio of about 18 projects funded by the World Bank in Cameroon.”

He reassured the World Bank of government’s determination to continue with reforms geared towards modernizing public finance management to meet up with international standards and for more efficiency.

The Minepat boss stressed that “the signing of this accord is coming within a context marked by the implementation of the economic and financial programme supported by the Enlarged Credit Facility of the International Monetary Fund, IMF and with budgetary support of other technical and financial partners of Cameroon such as the World Bank.”

Auteur:
Atia T. AZOHNWI
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