The Special Fund for Equipment and Intermunicipal Intervention (Feicom) held its board meetings on August 31 in Limbe, a region affected by ongoing violence. During that meeting, discussions focused on Feicom’s application to the Climate Change Adaptation Fund and the debt situation of municipalities in the North-West and South-West regions.

A proposal by the general management to cancel 75% of the debt owed by 62 municipalities, totalling XAF4 billion was approved. According to Feicom general manager, Philippe Camille Akoa, the debt was [primarily due to the challenges brought on the regions by the security crisis ongoing in the two regions. 

The challenges, he explained, include “the slowdown in economic activity and the deterioration of municipal infrastructure and equipment.” As a result, operating costs and the debt these municipalities owe to Feicom have increased, according to the institution.

The debt cancellation is seen as a gesture of solidarity and considers the low impact on Feicom’s overall financial balance.

Source: Sbbc