The signing ceremony between Cameroon and France of the agreement for the allocation of the 3rd C2D to finance Phase II of the Financial Governance Support Project (PAGFI II) was held on 29 May 2019.
2.6 billion CFA francs is the amount granted by the C2D to Cameroon in order to improve its financial governance. Aiming to support the implementation of policies related to public finance governance, these resources once again mark the constant collaboration between the French government and the State of Cameroon. "I am delighted that, alongside major achievements in sectors as varied as education, rural development, infrastructure and health, C2D can also give substance to the reform of public finances... "said His Excellency Gilles THIBAUT, Ambassador of France to Cameroon.
It must be said that Cameroon has been engaged for more than 10 (ten) years in an ambitious reform of public financial management, including significant progress, including the transition to the Programme Budget. The arrival of this second phase of the programme also contributes to the operationalization of the Central African sub-region's guidelines. Overall, it will be a question of effectively linking budgetary regulation to optimal management within the framework of the Single Treasury Account; making available genuine accounting and budgetary information reflecting a true and fair view of the financial situation; and responding to the many issues and challenges involved in public financial management, both in terms of culture change and capacity building.
In view of the current economic and financial context, the agreement signed only bodes well for the future. This is why Alamine Ousmane MEY, Minister of the Economy, Planning and Spatial Planning, in her speech stated that : "the signing of this agreement takes place in a context marked not only by the implementation of a set of economic and financial measures that could facilitate the approval of the fourth review of their program over three years supported by the agreement under the Extended Credit Facility (ECF) which was approved in June 2017, but also by the improvement observed in the performance of certain macroeconomic indicators".
