Cameroon receives FCFA 63 billion from EU

The European Union has reportedly reached a two-year deal with Cameroon. The EU will grant Cameroon about FCFA 63 billion.

The aid is meant  partly for  rural development in Cameroon, according to media reports.

The deal was signed by Minister Luis Paul Motaze and the representative of the EU , Hans Peter Schadek on November 9.

Critics believe that Cameroon may be experiencing a serious financial crisis following the unrest in Southern Cameroons and the fight against Boko Haram coupled with embezzlement.

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