YAOUNDE, March 18 (Xinhua) -- Leaders of the Economic and Monetary Community of Central Africa (CEMAC) have renewed their commitment to accelerating sub-regional integration and fostering growth.
They made the pledge at the end of the 15th Ordinary Session of the Conference of CEMAC Heads of State held in the Cameroonian capital of Yaounde.
According to resolutions, reached at the close of the meeting Friday evening, more than 2 billion U.S. dollars will be disbursed to finance integrated projects in the CEMAC sub-region.
The leaders endorsed reforms to strengthen sub-regional integration, boost the economies of member states following the impact of the COVID-19 pandemic and the conflict between Russia and Ukraine, and reinforce security ties.
The growth rate in the sub-region is expected to stand at 3.3% in 2023 as compared to 3.5% in 2022, but this can only be possible through "sound" regional integration, said Cameroonian President Paul Biya who chaired the summit.
"Despite exogenous constraints...our common organization remained focused on pursuing our integration objectives. We have reached major milestones because community building is a long process. I remain optimistic about its progressive establishment," Biya said while closing the summit.
President of the Central African Republic Faustin-Archange Touadera took over CEMAC leadership from Biya for a four-year mandate.
CEMAC member countries, including Cameroon, Chad, the Central African Republic, Equatorial Guinea, Gabon, and the Republic of the Congo, aim to promote peace and the harmonious development of its member states, in the framework of establishing an economic union and a monetary union. Enditem.