The Minister of the Economy, Planning, and Regional Development, Alamine OUSMANE MEY, chaired the National Forum on Financing Development in Cameroon on March 28, 2023, at the Yaoundé Hilton Hotel.
This meeting, held under the theme: “Financing Economic and Social, Inclusive and Sustainable Development,” is part of the implementation of the recommendation of the International Conference on Financing for Development held in Addis Ababa in July 2015, which suggests that countries adopt National Integrated Financing Frameworks (NIFFs) enabling them to develop and implement a strategic, holistic and results-based approach to financing development.
On this basis, and in line with the international approach, Cameroon has assessed its overall development financing needs for 2020-2030. “An activity carried out in conjunction with its technical development partners. What emerges is a strong concentration of financing needs in the infrastructure sector (31.7%), followed by the rural sector (23.8%), the health sector (18.5%), and the industry and services sector (14.1%)”, stresses the Ministry of the Economy.
According to Minister Alamine Ousmane Mey, the key issue was to find ways of boosting growth to at least 8%, and above all to create jobs, boost industrialization and structurally transform the economy.
For Minepat, it’s a question of implementing programs, projects, and activities that require substantial financing. “The NDS30 has estimated them at 37,500 billion for 2020-2030. The need must be added to finalize ongoing projects and stimulate economic recovery to 50 billion. So all in all, we end up needing around 88 trillion CFA to achieve our objectives,” he asserts.
by Esther Fossi
Source: Journal du Cameroun
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