The financing of about CFAF 13 billion, has just been granted by Austria to Cameroon. The information was revealed on 30 March 2023 by the Minister of the Economy, Planning and Regional Development (MINEPAT), Alamine Ousmane Mey, at the end of the audience he granted to a delegation led by Austrian economic actors.
The Austrian delegation was led by H.E. Alfred Gusenbauer, former Austrian Chancellor. At the end of this audience, Minister Alamine Ousmane MEY noted that it is an honour to receive H.E. Alfred Gusenbauer was led by a strong multi sector team interested in the development of our country, in accordance with Vision 2035 of the President of the Republic H.E. Paul Biya. MINEPAT subsequently announced that the Austrians on their side have approved funding for a much more adapted and accessible low-cost housing consisting of 350 houses on the basis of a funding to the tune of 20 million euro, worth 13 billion CFA francs. The Minister went further by saying that agriculture, forestry; wood processing and energy was on the agenda and called on the attention of the Austrian delegation, with the aim of strengthening the industrialisation of our country. For example, Cameroon whose agricultural potential is wide would like to make agriculture, the basis of the structural transformation of the economy and move towards its industrialisation. On the Austrian side, the interest in this sector is therefore to be capitalised on for local processing and added value. As for the wood sector, given that the countries of the sub-region have decided to move to processing instead of exporting wood in the form of logs, the interest shown by Austrian investors to set up processing units is to be welcomed, MINEPAT added. With regard to energy, it was noted that Austria has a long history of experience in energy production, especially in hydropower. Cameroon would like to increase its production capacity from the current 2,000 to 5,000 megawatts by 2030. The Austrian expertise is certainly highly welcome, said the Minister of the Economy. To give credibility to all these projects, the two countries intend to establish a common action plan, define the different orientations and draw up a schedule that will enable them to evaluate progress made, the performance achieved and to correct any shortcomings, with a view to make a richer and more fruitful cooperation.