(Business in Cameroon) - In light of its recently granted access to financing by the International Bank for Reconstruction and Development (IBRD), Cameroon will have a non-concessional line of credit opened amounting to 180 million dollars (close to 90 billion FCFA) per year for the 2017-2017 period. This was announced during the July 22, 2014 visit to Cameroon by the Vice-President for the Africa region of the World Bank, Makhtar Diop (photo).

In total, for a period of four years, the World Bank agency will provide Cameroon with a total of 360 billion FCFA. “This will enable to increase the volume of resources available through the World Bank institutions, but also to start to see how some trade projects could be financed with IBRD resources and to use more and more donated resources for social investments that have a lower commercial yield than other types of projects,” stated Mr Diop.

The World Bank has a portfolio of 23 active projects in Cameroon for a total amount estimated by the Bretton Woods institution at over 500 billion FCFA. The financing is provided by the International Development Association, the concessional branch of the World Bank.