Meeting between President of CEMAC Commission with Director of WB for Africa

Daniel Ona Ondo, President of the CEMAC (Economic and Monetary Community of Central Africa) Commission, who recently met the Executive Director of the World Bank for Africa, Seydou Bouda, reported on the economic situation in the community countries affected by the oil crisis.

Ona Onda also gave an update on the measures taken by the heads of State of the subregion through the PREF-CEMAC, while also saying that, despite the significant recovery of the main economic indicators, the fact that the general situation was of concern should not be hidden.

The President of the Commission revealed that the consolidation of the regional market, economic convergence or the fusion of the stock exchanges should provoke a positive dynamic capable of strengthening integration. Finally, he presented the integrating projects contained within the Regional Economic Programme (REP) and hoped the World Bank would support its implementation with financing.

In reply, the Executive Director of the World Bank for Africa said that the efforts to improve the economic situation within CEMAC were commendable, and said that his institution intended to implement a large project in each region on the continent.

In addition, he reported that the World Bank for African regional programme represented 14 thousand million dollars. In fact, Seydou Bouda invited his host to submit useful necessary projects, in order that they appear on the agenda of the next board meeting.

Source: Equatorial Guinea Press and Information Office

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