Cameroon - Economic Recovery Support Programme in Cameroon (PARECAM Phase I)

This intervention concerns the Economic Recovery Support Programme in Cameroon (PARECAM). It aims to foster the post-COVID recovery of the Cameroonian economy through fiscal consolidation, structural transformation and the revitalization of the private sector. The programme contributes to strengthening fiscal sustainability through increased tax revenue collection and greater transparency in public spending. It also contributes to improving the industrialisation framework and private sector development for inclusive and sustained growth. PARECAM will seek to create the conditions for a diversified production base through economic transformation that is driven by a dynamic private sector that is expected to play a crucial role in growth and sustainable job creation. The main components of the programme are: (1) Support for budgetary sustainability and (2) Support for the Business Climate and Economic Transformation. The project primely contributes towards climate Adaptation result. As such 25% of the total approval is attributed as climate finance, out of which 22 million USD is adaptation finance.