On November 23, 2017, the Board of Directors of the African Development Bank (AfDB) approved budgetary support amounting to 180 million euros (about 120 billion CFA francs) for Cameroon, part of the first phase of the Program to Support Competitiveness and Economic Growth (Pacce), the pan-African banking institution announced.

The Pacce, says the ADB, is the first of three years of the general budget support program to be implemented from 2017 to 2019, in order to consolidate public finances, following the fall in crude oil prices, which has been exacerbated by security and humanitarian challenges in the country and in the Cemac area.

According to the AfDB, this program aims to maintain macroeconomic and fiscal stability and lay the foundation for robust, resilient and inclusive economic growth, improving the public financial management framework and strengthening the governance and competitiveness of the productive sectors. (transport, energy and agriculture).

Source: Business in Cameroon