The information was released during the 38th and 39th extraordinary meetings of the Board of Directors of the Special Fund for Equipment and Inter-Municipal Intervention.
The 38th and 39th extraordinary meetings of the Board of Directors of the Special Fund for Equipment and Inter-Municipal Intervention(FEICOM) were held on 30 and 31 August in Limbe, at the South West regional agency of this body, under the chairmanship of Georges ELANGA OBAM, Minister for Decentralisation and Local Development, President of the said Board.
The main items on the agenda were the examination of the accreditation of FEICOM to the Climate Change Adaptation Fund (CCAF) and the debt situation of the communes of the North-West and South-West regions.
With regard to the debt owed to FEICOM by municipalities in the North-West and South-West regions, the Director General said that these municipalities were facing difficulties as a result of the security crisis they were facing, which was characterised by a slowdown in economic activity and the deterioration of municipal infrastructure and equipment. This situation has increased their operating costs and their indebtedness to the Organisation.
As a result, the Board approved the Executive Committee’s proposal to write off 75% of the debt owed by 62 municipalities, for a total of €4 million.
