(Business in Cameroon) – The public financial institution in charge of local development in Cameroon – Feicom – announced the launch of a new support package for flood-hit communities. Over the next five years, the body will finance projects aimed at addressing this issue.
Beneficiaries have until April 20, 2025, to submit their projects. Eligible projects should address flood risks or improve flood management. They must protect people and infrastructure. Sustainability is key, and local communities should be involved in both planning and execution. The goal is to create solutions that match each community’s needs.
Each community must contribute 15% of the project’s total cost. The remaining 85% will be covered by Feicom’s solidarity fund. Funding is capped at CFA300 million for municipalities or urban communities, and CFA500 million for regions. However, if multiple communities join forces on a shared project, the funding cap increases by 30%.
This funding is part of the “Climate Fund,” which was approved by Feicom’s board on November 1, 2024. The fund aims to support local efforts for sustainable development and climate adaptation. Climate change, including rising sea levels and extreme weather, poses growing risks for local communities. Poor infrastructure makes these communities even more vulnerable. Feicom is stepping in to help them build resilience and reduce disaster risks.
