If it is right to suggest that pooled aid as a way to overcome excessive fragmentation in bilateral programmes, the transparency and accountability from government in Africa and specially in Cameroon can improve the fight again corruption.
Speaking at the Millennium Development Goals summit in New-York on Tuesday 22 September 2010, president Paul Biya of Cameroon avoid to mention that international influences in Africa are largely responsible for the non-achievement of the millennium development goals in Africa.
By avoid saying tha he was protection his relationships with those who are responsible for the large scale of corruption that is fuelled today in Africa by American, European and Asian companies. Paul Biya just represente those who use aid fund for their own purpose and not for the interest of the population. Poverty in cameroon is still growing and the middle class citizen is struggling like the poor ones.
But pooled ressources complemented by private capital can increase aid effectiveness, improve harmonisation and minimise transaction costs, implementing the principles agreed with the Paris Declaration. It is in that spirit that the African Development Bank, the government of Danmark and Spain are setting up an African Guarantee Fund ( AGF) for small and medium enterprises ( SMEs).
As an innovative initiative, the AGF will regionalise support and pool resources in order to catalyse the private sector investment for the medium term. It will address specific market failures, complementing private credit markets. Financial and economic additionnality will be periodically evaluated in order to increase transparency and accountability, said Pietro Calice and Torben from the Adb
Speaking at the Millennium Development Goals summit in New-York on Tuesday 22 September 2010, president Paul Biya of Cameroon avoid to mention that international influences in Africa are largely responsible for the non-achievement of the millennium development goals in Africa.
By avoid saying tha he was protection his relationships with those who are responsible for the large scale of corruption that is fuelled today in Africa by American, European and Asian companies. Paul Biya just represente those who use aid fund for their own purpose and not for the interest of the population. Poverty in cameroon is still growing and the middle class citizen is struggling like the poor ones.
But pooled ressources complemented by private capital can increase aid effectiveness, improve harmonisation and minimise transaction costs, implementing the principles agreed with the Paris Declaration. It is in that spirit that the African Development Bank, the government of Danmark and Spain are setting up an African Guarantee Fund ( AGF) for small and medium enterprises ( SMEs).
This is a newly innovative initiative public-private parternship which will provide guarantees to financial institutions combined with technical assistance to stimulate new lending to African SMEs. It is known that small businesses play today a key role in stimulating sustainable economic growth and by the same time they are still facing huge amount of problems and barriers.
Access to bank credit still the main barrier for the economic growth of the SMEs. Promoting the access to the external finance by the Smes is now the key priority for the community development.
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