The German development bank (KfW) and COMIFAC signed two contracts to this effect October 20, 2020 in Yaounde.
The German development bank (KfW) and the Central African Forest Commission (COMIFAC) have signed two separate financial aid contracts worth over FCFA 8.5 billion (13 million Euros) to further finance two forest management projects known as BSB Yamoussa and the Programme for the Promotion of Certified Forest Exploitation (PPECF). Both agreements were signed October 20, 2020 in Yaounde. In details, Germany has offered an additional financial aid worth over FCFA 1.9 billion (3 million Euros) for the Trans boundary national park BSB Yamoussa project. The project includes the Bouba Ndjida National Park in Cameroon, and the Sena Oura National Park in Chad. The recent funding, according to stakeholders, will facilitate the relocation of the population of Sena Oura who were displaced in favor of a park. Stakeholders further indicate that the cooperation of the two countries is necessary to preserve the rich fauna of the complex. "BSB Yamoussa is a project which has been ongoing and we have just received additional financial support from Germany," The Executive Secretary of COMIFAC, Raymond Ndomba Ngoye said. This, he added, will permit those on the field to work hard to attain the objectives of this project". The Program for the Promotion of Certified Forest Exploitation (PPECF) II via the accord will receive a financial support of over FCFA 6.5 billion (10 million Euros). COMIFAC's Executive Secretary explains that, "Wood exploited by any fraudulent way cannot be sold in European territory reason why we need to broaden the certification of forest exploitation in the sub region". "Certification is a commercial process," he adds before opining that, "If an economic operator wants that his products should be well sold worldwide, they need to get certification". The funding, he says, will therefore help economic operators accelerate the certification process. He equally notes that these projects have been existing since and partners like Germany keep chipping in funds to see that its objectives are attained. The Program for the Promotion of Certified Forest Exploitation (PPECF) contributes to the sustainable industrial exploitation of forests of the Congo Basin.