Germany announced the disbursement of €15 million (about CFA9.8 billion) to fight Boko Haram in the Lake Chad basin (Cameroon, Niger, Nigeria, and Chad).
The transaction is scheduled for 2021 and will be in addition to an initial German contribution estimated at €25 million (more than CFA16.4 billion). In total, Germany's financial commitment to this fund amounts to €40 million (CFA26.2 billion).
The resources will help finance projects that can improve security, restore damaged critical infrastructure, and provide livelihoods to communities affected by Boko Haram attacks in the Lake Chad area. In the Far North region of Cameroon, the Regional Stabilization program operates in two communities, Amchidé and Limani, with plans to expand into the Mayo Moskota, Fotokol, and Blangoua. The activities are implemented jointly by the administrative authorities, the security forces, and civil society organizations.
"In Amchidé, for example, they all work closely to build partnerships for lasting peace and stability, and hopefully this will result in the opening of the Amchidé-Banki border crossing and the revival of regional trade. This would open up many job opportunities in the region, help stabilize the region and reduce the recruitment of young unemployed people by Boko Haram," said Dr. Corinna Fricke, German Ambassador to Cameroon.
The Regional Stabilization Facility is a financing vehicle established by the United Nations Development Program (UNDP) with the support of Germany as well as the European Union, the Netherlands, Sweden, and the United Kingdom. It was designed as a regional instrument to facilitate the implementation of the Regional Stabilization Strategy (RSS) of the Lake Chad Basin Commission and the African Union. The initiative provides for civil-military cooperation at the local and state levels to enable sustainable stabilization of the area.