The signing ceremony for the Republic of Korea’s grant agreement for Cameroon, funded by the Korea International Cooperation Agency (KOICA), took place on 11 July 2024 in Yaounde.
The Minister of the Economy, Planning and Regional Development (MINEPAT), Mr. Alamine Ousmane Mey, together with the Ambassador of the Republic of South Korea to Cameroon, H.E. Nam Ki WooK, signed the grant agreement for a total of USD 39.35 million, roughly CFAF 23.21 billion. The ceremony was attended by Ibrahim Talba Malla, Minister Delegate to the Presidency of the Republic in charge of Public Contracts, and Gyuhong Lee, Country Director of the Korea International Cooperation Agency (KOICA).
This agreement aims to fund five development projects in Cameroon to improve the delivery of public services, and access to basic services and strengthen the capacity of Cameroonian institutions, thereby contributing to the country’s sustainable development. Specifically, these include the Master Plan and e-Procurement System Development Project Phase II, funded to the tune of USD 5.6 million (CFAF 3.428 billion), which will further the digitisation of the public procurement system, leading to greater transparency and efficiency. The Drinking Water Supply Project, supported by this grant agreement worth USD 6.7 million (around CFAF 3.65 billion), will contribute to improving the rate of access to drinking water in the councils of Matomb, Massock, Ebebda and Koutaba. The Pilot Project for the Computerisation of the National Civil Status System with BUNEC, on which studies are currently being carried out, has been allocated USD 4.85 million (CFAF 2.813 billion). This project is expected to improve the registration rate and the quality of civil status statistics in Cameroon. As for the Project to set up a SMART CAMPUS to promote e-Government in public administration institutions, worth USD 8 million (around CFAF 4.64 billion), the expected result is the modernisation of the civil service. Last but not least, there is the Emergency Medicine System Strengthening Project, estimated to cost USD 14 million (about CFAF 8.4 billion).
According to the Minister for the Economy, this agreement reflects a new dynamic in strengthening the quality of cooperation between the Republic of Cameroon and the Republic of South Korea, which has lasted for more than six decades. South Korea is supporting Cameroon in its development efforts towards emergence through three windows: the Korean International Cooperation Agency (KOICA), EXIMBANK Korea through loans from the Economic Cooperation Development Fund (EDCF) and the Korean Ministry of Agriculture, Food and Rural Affairs (MAFRA). Through KOICA, Cameroon benefits from major grants in the health, ICT, education, capacity building as well as agriculture and rural development sectors. “We are eager to witness the many expected results of the agreement signed today within the priority sectors of its intervention”, stated Alamine Ousmane Mey. “Indeed, the scope of this agreement encompasses the key sectors of our National Development Strategy 2020-2023, the NDS30”, emphasised the Minister of the Economy.
The Korean Ambassador to Cameroon, H.E. Nam Ki Wook, highlighted in his speech that the agreement reflects the shared vision of supporting poverty alleviation and sustainable economic and social development in the Republic of Cameroon. “This agreement represents a commitment, not only by our two governments but by our two nations, to further consolidate the ties of friendship and cooperation that have endured for many years”, the Korean plenipotentiary said.
Korea’s overall portfolio of achievements in Cameroon is valued at USD 159.858 million, which is about CFAF 92.717 billion, of which almost 45% is in the form of grants.
