(Business in Cameroon) - As at 31 August 2018, the African Development Bank (AfDB)’s total commitments to Cameroon reached 1,121 billion Units of Account (UA), or around CFA875 billion. This was announced September 15 following a meeting between Khaled Sherif, the bank’s Vice President, and the Cameroonian minister of economy Alamine Ousmane Mey, in Yaoundé.

In detail, the money is broken into 805.853 million UA for 14 national projects, 191.567 million UA for 5 regional projects and another 123.646 million UA for 4 private sector projects. The overall disbursement rate is 40.4%, out of which 31.30% is for national public sector projects, 33.99% for multinational public projects and 92% for the private sector.

For the record, under the Competitiveness and Economic Growth Support Project (Pacce), AfDB has already disbursed a first tranche of 150 million units of account. For this year 2018, the bank plans an investment of €150 million (about CFA98.5 billion). Let’s note that the scheme aligns with the 3-year economic and financial program between the International Monetary Fund (IMF) and Cameroon signed in June 2017.

S.A