(Business in Cameroon) - The Director General of the French Development Agency (FDA) Anne Paugam (photo), and the Cameroonian Minister of Economy, Emmanuel Nganou Djoumessi, have just signed a loan agreement for 52.5 billion FCfa (around 80 million euros) for the partial financing of a drain clean-up project (PADY2).

PADY2 aims to correct the canalisation of the Mfoundi River, in which obstruction has given rise to frequent floods in the Cameroonian capital during the rainy season. It will also allow the improvement of the areas along its banks which, as the river, like the Seine in Paris, winds its way through several districts across the capital.

According to Anne Paugam, in 2014, the FDA will disburse between 60 and 70 billion FCfa to the Cameroonian government in the form of financing for various projects. Since 2006, the FDA has financed projects amounting to close to 1 trillion FCfa in Cameroon, according to the Embassy of France in Yaoundé.