Over 4 billion CFA in debt owed by councils in the North West and South West regions has been cancelled. The Head of State approved the cancellation of the 4.6 billion CFA debt to ease the financial burden on local councils in these conflict-affected areas.
The announcement was made during the North West Regional Assembly session held on September 16th, 2024. The debt relief is expected to provide significant financial support to municipalities impacted by the ongoing Anglophone crisis.
The decision was officially adopted during an extraordinary session of the Special Council Support Fund for Mutual Assistance (FEICOM) Board of Directors, held on August 31st in Limbe. The cancellation will allow councils to redirect funds towards essential development projects and improve services for affected communities.
Prof. Fru Angwafor, President of the North-West Regional Assembly, expressed appreciation for the decision, stating its importance for regional development. “This move marks significant support for the North-West region,” he said, acknowledging the government’s efforts to assist local authorities during the ongoing socio-political crisis.
During the assembly, Prof. Fru Angwafor emphasized the need to assess the region’s progress over the past three years, as they discussed the theme, “Review of 2021-2024 Project Performance & Consolidation of 2025 Investment Projects.” He said, “Our collective efforts over the past three years have aimed at transforming our region, and now we can evaluate the results.”
It is unclear why the debt has been cancelled and its impact.
The North West Regional Assembly was established to address the region’s development needs within the framework of decentralization, a process initiated by a national dialogue in 2018 aimed at resolving the Separatist armed conflict in the Anglophone regions.
Although the Assembly has devolved powers from the central administration, the local population has yet to experience its benefits. Challenges such as poor road infrastructure, high unemployment, inadequate healthcare, ongoing armed conflict, and partially functioning schools continue to affect the region significantly.
