Signature of a Cooperation Agreement between the ADB and the Central African Economic and Monetary Community: Strengthening Regional Integration

06/07/2005
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Signature of a Cooperation Agreement between the ADB and the Central African Economic and Monetary Community: Strengthening Regional Integration

Tunis, 6 July 2005 – The African Development Bank (ADB) the Central African Economic and Monetary Community (CEMAC) today signed in Tunis, a Cooperation Agreement aimed at strengthening regional integration of the CEMAC member countries.  The agreement provides for the implementation of concerted programmes of action, consultations and exchange of information.

The Agreement was signed by Mr. Omar Kabbaj, President of the Bank Group and Mr. Jean Nkuété, Executive Secretary of CEMAC, who was accompanied by Mr. Mohamadou, Head of the Office of the Executive Secretary.

President Kabbaj recalled that the signature of this Agreement testifies to ‘the Bank’s resolve to leave no stone unturned in strengthening cooperation with integration organisations in Africa’.  Accordingly, he underlined, the Bank has approved 243 operations for the benefit of the CEMAC member countries involving funds of nearly US$ 3.1 billion, including multinational operations aimed at enhancing regional integration in Central Africa, with focus on higher education, agricultural research, the environment, health, HIV/AIDS control, interconnection of electricity networks and capacity building. 

To better support this recovery and strengthen even further its operations in the region, the Bank, Mr. Kabbaj pointed out, ‘has started preparing the 2005-2009 country assistance strategy paper for regional integration of countries the Economic Community of Central African States (ECCAS) that will take into CEMAC’s concerns’.  This assistance strategy will involve ADB support for a number of concrete projects like the Civil Aviation Safety Supervision Project (COSCAP) in the CEMAC countries, which has already been approved by the Bank.

For his part, on behalf of the Heads of State of the CEMAC countries, Mr. Nkuété took the opportunity to commend the ADB for its concern over the years for regional organisation.  ‘Based on such trust, we could serve as catalyst to ensure greater efficiency of ADB operations in the region’ he said.