The Development Bank of the Central African States (BDEAC) has greenlit several project financing proposals across vital sectors during its board meeting on May 13 in Douala, Cameroon. These investments, totaling FCFA60 billion, primarily target agriculture, agro-industry, air transport, and financial services, as stated in the BDEAC’s press release following the board meeting.
However, the breakdown of the funds by country has not been disclosed.
For agriculture and agro-industry, BDEAC seeks to modernize the sector, promote sustainable farming practices, and support SMEs. The goal is to bolster regional food security, economic growth, and job creation.
The allocated funds for air transport are expected to modernize airport infrastructure, improve air operations’ safety and efficiency, and support the growth of local airlines. This will enhance regional connectivity, boost tourism development, and facilitate the mobility of people and goods, thus promoting regional trade.
Additionally, in financial services, these investments aim to strengthen financial inclusion, promote access to banking services, and support the development of the regional financial sector, thereby stimulating economic activity and encouraging entrepreneurship in the region.
On December 20, 2023, a portfolio guarantee agreement was signed in Douala between the Minister of Finance, Louis Paul Motaze, and BDEAC President Dieudonné Evou Mekou. This measure seeks to address guarantee issues faced by many companies in the country. While specifics regarding the guarantee amount and access terms were not explicitly outlined, eligible loans include those destined for investments in priority sectors defined by the 2020-2030 National Development Strategy (SND30), including agro-industry and financial services. Priority is also given to loans aimed at increasing local production and strengthening export capacities.