In 1995, the Bank of Central African States (BEAC) and the Central Bank of West African States (BCEAO) launched a capacity building program in macroeconomic and financial management with the backing of the African Capacity Building Foundation (ACBF). In 2000, the Foundation approved a grant of US$1.65 million for three years to both banks in order to support a Regional Debt Management Training Program (RDMTP). In May 2004, the Executive Board approved a grant of US$ 1.5 million towards Phase II.
The overall goal of Regional Debt Management Training Program was to improve the macroeconomic and financial management of member countries of the Central African Economic and Monetary Community (CEMAC) and the West African Economic and Monetary Union (WAEMU). This was aimed at creating an environment for productive investment and economic growth conducive to the formulation and implementation of poverty reduction programs.
