Yaoundé - 02 October 2023 -

Development assistance: Cameroon captured 50% of AFD’s financing in Central Africa in 2016-2022

Development assistance: Cameroon captured 50% of AFD’s financing in Central Africa in 2016-2022
  • Comments   -   Friday, 25 August 2023 11:01

(Business in Cameroon) - The French Development Agency (AFD) granted a total of €2.8 billion (over CFAF1.8 trillion) in financing in five Central African countries over seven years (2016-2022). The countries that secured the financing are notably Cameroon, Congo, Gabon, DR Congo, and the Central African Republic. The financing does not include the €487.4 million (nearly CFAF320 billion) injected by Proparco, AFD’s private sector financing subsidiary. 

According to the French financial institution’s activity report, Cameroon alone accounted for 50% of the non-proparco envelope during the period under review. In concrete terms, the financing obtained by Cameroon from AFD amounted to €1.4 billion (about CFAF918.3 billion). The envelope to Cameroon is almost triple the amount to Congo (€483.7 million or CFAF317.2 billion and 18% of the overall envelope between 2016 and 2022), AFD’s second largest financing destination in Central Africa.   

With 12% of overall financing (€347 million or CFAF227.6 billion) Gabon captured just a quarter of AFD financing to Cameroon.  The same goes for DR Congo, which has received just €332.1 million from the AFD over the past seven years, or nearly CFAF218 billion.

"At the crossroads of West and Central Africa, Cameroon has historically been one of AFD Group's most important countries of intervention," AFD says as if to justify its increased interest in Cameroon. Most of AFD's financing in Cameroon is directed towards infrastructure projects and urban development. The institution reveals that in 2022 alone, 64% of its financing to Cameroon (€126.3 million of CFAF82.8 billion) funded infrastructure projects. 

AFD also finances projects in agriculture and food security (27% of financing in 2022), health, education, employment and vocational training, water and sanitation, and more. In total, by December 31, 2022, this institution, which acts as the secular arm of French official development assistance, claimed to have 55 projects underway in Cameroon.

Brice R. Mbodiam  

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