Three packages will give financial boost to the Social Safety Nets project, the Community Driven Development Programme (PNDP), and the national health system.
The World Bank has concluded negotiations with the government of Cameroon to make available funds which will be used to stimulate growth and reduce poverty in the country.
Agreements to concretise the negotiations were signed in Yaounde, Thursday March 8, 2018. While Elisabeth Huybens, World Bank Country Director for Cameroon signed for the international financial institution, Jean Tchoffo, Secretary General of the Ministry of the Economy, Planning and Regional Development represented the government of Cameroon.
The recent accords concern three additions to three projects involving the Social Safety Nets project, the Community Driven Development Programme (PNDP), and the national health system.
For the Social Safety Nets project, the World Bank will pump in over FCFA 30 billion for its second phase, while no fewer than FCFA 25.5 billion will be accorded to PNDP as grant and loan. Also, the Bretton Woods institution will reinforce the country's national health system with over FCFA 67 billion.
It is the first time in the World Bank's history that the institution has a window to provide grant money to countries which have been particular in welcoming refugees.
"We are adding resources to these projects so that it can take care specifically of refugees and host communities," Elisabeth Huybens said. It should be noted that the Social Safety Nets project targets the poorest and most fragile regions in the country.
In the last five years, the project covered some 84,000 households in the Far North, North, Adamawa, East and North West Regions, as well as the cities of Douala and Yaounde. Approximately FCFA 360,000 was given per household.
According to Njoh Michelen, Project Coordinator of Social Safety Nets, the project will be extended to the South West and South Regions. Njoh explained that as usual, they will continue to give out cash to households as well as pump funds into special projects during periods of inactivity in communities.