The CEEAC finances 300 microprojects
The African Development Bank (AfDB) and the Economic Community of Central African States (ECCAS) have just agreed to finance 300 regional microprojects for $10 million.The African Development Bank (AfDB) and the Economic Community of Central African States (ECCAS) have just agreed to finance 300 regional microprojects for $10 million.
The Fund for Local Development (FDL) is scheduled to run for the next two years.
Created by ECCAS statesmen to get rid of the "persistent poverty" their countries are suffering from, the FDL will only fund projects likely to support economic development locally.
Their aim will be to facilitate the local populations’ access to first need services and to contribute to the development of economic activities. Peasants will be amongst the FDL’s main beneficiaries.
It also includes a sustainable development angle since it aims to accompany beneficiaries at every stage of their business. For instance, a fisherman would benefit from support in improving their fishing method as well as their sales.
Mr. Bittini Won Wa Musiti, regional coordinator for the Program supporting the conservation of the Congo Basin ecosystem (PACEBco), confirmed that the region had high hopes for this new influx of funds.
“This program will obviously fundamentally improve the living conditions of the populations of the Congo Basin”, he explained.