Cameroon-European Union: Both sides review the state of their cooperation

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Une Concertation de haut niveau s’est tenue ce mardi 26 novembre 2019 à Yaoundé, sous la co-présidence du Ministre de l’Economie, de la Planification et de l’Aménagement du Territoire, Alamine OUSMANE MEY, par ailleurs Ordonnateur National du FED, l’Ambassadeur, Chef de Délégation de l’Union Européenne au Cameroun, Hans Peter SCHADEK.

Cameroon has a commitment rate of around 94% of resources allocated under the 11th EDF. This performance reflects the good health of economic cooperation relations between Cameroon and the EU, the aspects of which were commended on Tuesday by the Minister of the Economy, Planning and Regional Development, and the Head of the EU Delegation to Cameroon. The High-Level Consultation attended by the Ambassador of Cameroon in Brussels, H.E Daniel Evina Abe'e, allowed both parties to review the main economic issues of common interest, namely the state of implementation of the 11th EDF and the 2020 Annual Plan of Action ; budget support for the 2017-2019 cycle and the 2020-2021 outlook; the state of trade cooperation, especially the Cameroon-European Union Bilateral Economic Partnership Agreement; the orientation and maturation of potential development projects to be submitted for financing under the EU's external investment plan and the status of works on the preparation of the post-GESP national development strategy.

During these works, Alamine Ousmane Mey commended the EU's constant and multifaceted support for Cameroon's socio-economic development efforts. Indeed, several sectors benefit from this support as part of the provision of resources and support for the implementation of structural reforms and economic and financial recovery in Cameroon, through budget support. "It is therefore necessary to continue this cooperation, taking into account the new challenges related, inter alia, to improving the trade balance and the fiscal and economic consolidation of Cameroon," MINEPAT said. For his part, the Head of the EU Delegation to Cameroon said that these exchanges came at the right time, particularly after the Extraordinary Summit of CEMAC Heads of State and Government held in Yaounde on 21 and 22 November last, at the initiative of the President of the Republic, Paul BIYA, with a view to reviving the economies of the sub-region.

During this consultation, Alamine OUSMANE MEY and Hans Peter SCHADEK signed a grant agreement for 16.15 million euros, or about 10 billion CFA francs, to complete the financing required to implement the Rural Electrification and Energy Access Project in Cameroon (PERACE) in 06 regions of the country (Far-North, East, South-West, North-West, North, Adamawa).

These EU resources are specifically aimed at supplying more than 115,000 households with energy in the Adamawa and North regions. They are a supplement to those mobilised from the World Bank (150 million dollars) and the European Investment Bank (35 million euros).