Cameroon: African Development Bank Invests 1.1 Billion Dollars in Development Projects in Cameroon

Source: Business In Cameroon

(Business in Cameroon) – The French Development Agency (AFD) boasts a €1.1 billion (CFA721.55 billion) portfolio in Cameroon, spanning 60 ongoing projects. This figure represents a significant portion of AFD’s overall funding in Central Africa. According to its 2023 activity report for the region, the agency injected a total of €2.7 billion (CFA1,770.5 billion) over the past seven years (2017-2023).

In detail, Cameroon received 43% of these funds, followed by Congo (23%), the Democratic Republic of Congo (16%), Gabon (13%), the Central African Republic (4%), and Equatorial Guinea (0%). This financial support facilitated a wide range of projects in sectors such as infrastructure, urban development, potable water supply, food security, and public policy enhancement.

Among the AFD-funded projects in Cameroon is the construction of the Nachtigal Dam, which is expected to boost the country’s electricity production capacity by 30%. Additionally, initiatives to improve the water supply in Yaoundé and Douala, the nation’s two largest cities, have been supported. Infrastructure projects, such as the development of Douala’s Eastern Access Road and the Batchenga-Ntui road axis, also received AFD backing.

Recently, the AFD has supported large-scale infrastructure projects like the “Regional Capitals” program, which aims to modernize five secondary cities, including the construction and rehabilitation of 57 km of roadways. The French institution has also supported food security projects and initiatives to aid rural entrepreneurs, aligning with Cameroon’s sustainable development priorities.

The Debt Reduction-Development Contract (C2D) has played a crucial role by converting part of Cameroon’s debt to France into funding for vital health, education, agriculture, and justice projects. To date, three C2Ds have been signed, totaling CFA967 billion, according to the AFD. The latest C2D, signed in 2016 with a budget of CFA400 billion, is set to conclude in 2026.

THE AUTHOR: Business in Cameroon

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