Cameroon/Local development : 6 communes benefit from 2.315 billion for the construction of social housing

The funds allocated to the communes of Lobo, Dibombari II, Sangmelima, Bamenda II, Ngoura and Kye-Ossi are part of the Municipal Housing Construction Programme.

During the last Steering Committee of the Municipalities Construction Programme (MCCP), held on October 19, 6 Cameroonian municipalities benefited from a budget of 2.315 billion CFA francs. These are the communes of : Lobo (364.446 million, for 20 social housing units); Ngoura (216.152 million, for 12 social housing units); Dibombari II (356.920 million, for 20 housing units); Kye-Ossi (405.427 million, for 20 housing units); Sangmelima (463.072 million to build 24 housing units) and Bamenda II (509.560 million to build 24 units).

On the use of these funds, we learn that the funds allocated "will be implemented according to the concept of "garden city" which includes in addition to housing, socio-community facilities, infrastructure and green spaces that contribute to creating a pleasant living environment.This new concept integrates the priorities of the government and the people of Cameroon," he said in a press release issued at the end of the meeting and signed by the Director General of the Crédit Foncier du Cameroun (CFC) and his counterpart of the Fonds spécial d'équipement et d'intervention intercommunal (Feicom). "This new concept integrates the priorities of the government contained in the development strategy (SND30) in terms of urban development and is consistent with the Sustainable Development Goals (SDGs)," the statement continues.

Lines of credit

The funding received by these communes is not the first of its kind. The communes of Bikok, Nkoteng, Nitoukou, Nkongsamba II and Idenau and the Urban Community of Garoua have benefited from 1.641 billion CFA francs for this program. Long before, it was the Urban Community of Ngaroundéré, the communes of Diang and Angossas which had benefited from 750 million.

These funds are part of the 2nd line of credit of 20 billion granted to the Feicom by the CFC. In fact, the Municipalities Construction Programme is a programme whose key players are the Crédit Foncier du Cameroun (CFC), the Fonds Spécial d'Equipement et d'Intercommunal (Feicom) and the Association des Communes et villes Unies du Cameroun (CVUC). The latter have been linked since the first line of credit of 10 billion granted by the CFC for the implementation of this project. If to date, it is exhausted (9.995 billion of the 10 billion made available, with a balance of 4.545 million CFA francs), it has been allocated to the construction of 586 homes in 24 municipalities throughout the national triangle. The beneficiaries of this first financing whose disbursements started in 2015 are: Ngoumou (28 housing units), Pete Bandjoun (35 housing units), Nguibassal (13 housing units), Bafang (19), Bogo (20), Limbe III (24), Mengang (12), Penja (15), Biyouha (12), Figuil (21), Guider (26), Lagdo (31), Mbe (29), Ngaroundéré I (24), Niete (22), Esseka (40), Messondo (30), Betare Oya (28), Djoum (30), Mengong (22), Kai Kai (18), Touloum (18), Poli (24) and Ndop (35).

The second line of credit (20 billion) only came into effect on 24 March 2021. In detail, it has a 5-year commitment, for a total duration of 30 years, with a 12-month grace period for each drawdown, for the principal and interest amounts. This for an interest rate of 4% excluding tax applicable on each drawing from the date of disbursement of funds.

Source: ecomatin.net/