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Fighting COVID-19 in CEMAC: Development bank disburses fcfa three billion.
Fighting COVID-19 in CEMAC: Development bank disburses fcfa three billion.
The fight against the adverse impact of the novel Coronavirus has been boosted with some FCFA three billion. The money which will be channeled to reinforce the various efforts established by the different Economic and Monetary Community of Central Africa (CEMAC) member countries, has been offered by the Development Bank of Central Africa.
According to the release that announced the donation, the direct support will be used for the well-being of the general public. “The direct support is to help CEMAC countries in the implementation of their response programmes against this pandemic, whose main objective is to contain the spread of the virus and preserve the health and well-being of the population,” the statement read.
This effort corroborates measures and steps already taken by CEMAC to contain the outbreak. Cameroon is the highest hit in the Region and looks to get a larger share of the anti-coronavirus gift.
Recall, the Chairperson of CEMAC’s steering committee of the Financial and Economic Reform Programme, President Denis Sassou N’guesso of the Republic of Congo (Congo-Brazzaville) called for an extraordinary session a few weeks back. The committee brainstormed and proffered measures to cushion the impact and curb the spread of the virus in the Region. Among the measures taken, CEMAC endorsed that FCFA 90 billion be adopted to fund public health projects. As agreed in the meeting, FCFA 500 billion of liquidity was immediately injected into the banking system in the Region. They also called for the cancellation of external debts and the renegotiation of debts that cannot be cancelled.
Culled from Cameroon Insider