Benefiting from brotherly cooperation with Italy, Cameroon’s more than FCFA 4billions debt to the Italian Government has been canceled and in turn to be injected in Development projects in Cameroon.

Benefiting from brotherly cooperation with Italy, Cameroon’s more than FCFA 4billions debt to the Italian Government has been canceled and in turn to be injected in Development projects in Cameroon.

The stunning revelation was made during the 5th session of the bilateral follow up committee co-chaired on February 27, 2018 by the Minister of Economy, Planning and Regional Development Louis Paul Motaze and the Italian Ambassador to Cameroon Malco Romiti.

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Cameroon News Today- CNT learned it was agreed that in 2018 4billion six hundred and twenty-four millions FCFA should be invested in education, health and rural development projects in the Adamawa, North, Far North and East Regions. On the whole, there will be the construction of eleven community day care centers, 245 classrooms, 65 integrated health centers, 36 boreholes, 7small bridges and the rehabilitation of 15 farm to market roads.

The Shantal Biya International Reference Center will also receive an assistance of FCFA 70millions .

Worth taking note is, since the attainment of the completion point of the highly indebted poor countries initiative, FCFA 99.3billions of Cameroon’s debt vis-a-vis Italy was canceled from 2006 to 2042 with a total of 33% that is FCFA 32.7billions set aside for the construction of development projects.


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