During the year 2021, the Special Fund for Equipment and Intercommunal Intervention Feicom, the bank of decentralised local authorities , disbursed financing for a total amount of 48.6 billion CFA francs to the municipalities and urban communities of Cameroon.
According to the communiqué issued at the 40th ordinary session of the board of directors of this public company, which was held on 31 May 2022 in Yaounde, these funds were granted for the implementation of 447 community development infrastructure projects in 161 municipalities and urban communities in the country.
In addition, over the same period, it is learnt, the Feicom has transferred to these CTDs financial resources amounting to more than 100 billion CFA francs, as “equalization resources“. These are communal taxes and levies centralised by the Feicom, which are then redistributed to the CTDs, taking care to reduce the wealth gaps and inequalities between the latter entities.
As a reminder, the Feicom has, among other missions, to redistribute regional taxes and levies subject to equalisation, as well as additional communal pennies and other communal and regional taxes subject to equalisation. The body also makes available to the beneficiary regions, municipalities, unions of municipalities and urban communities the corresponding shares of the General Decentralisation Allocation decided by the government.
As such, this public structure is one of the secular arms of the State of Cameroon in terms of financing local development, in this period of acceleration of the decentralisation process underway in the country for many years.