(Business in Cameroon) - Ousmane Diagana (photo), World Bank Regional Vice President for Western and Central Africa, has embarked on a Central African tour during which he will visit Cameroon and the Central African Republic.
"The visit comes after the extraordinary summit of Heads of The Central African Economic and Monetary Community states (CEMAC) [last August 18]. It is aimed at reaffirming the World Bank’s commitment to supporting governments in the implementation of reforms and investments required for a green, sustainable and inclusive recovery," the World Bank informs.
Indeed, during the said extraordinary summit, Heads of CEMAC states urged for solidarity towards the region, notably through IDA20 replenishment aimed at helping countries recover from the coronavirus pandemic. For the CEMAC Commission, the pandemic is taking a heavy toll on member countries. For instance, member countries have already disbursed XAF2,747 billion for economic measures to support companies. Also, within just one year, the region’s debt rose from 49.1% to 55.6% of GDP, and foreign exchange reserves dropped by XAF1,116 billion, representing 0.3 months of imports.
Chronogram of activities
Ousmane Diagana started his tour in Cameroon, on September 12, 2021, where he discussed key development priorities with government officials. Till September 15, he will meet development partners, civil society organizations, the medical staff of the International Vaccine Center, and a School.
From September 15 to 17, he will meet with senior officials in the development partners, civil society organizations, and the private sector in the Central African Republic. In that neighboring country, his delegation will also participate in a roundtable on electricity access.
Ousmane Diagana coordinates relations between the World Bank and 22 countries. He also manages projects, technical assistance, and financial support projects worth over US$40 billion. To date, the World Bank’s commitment in Central Africa is estimated at over US$5 billion, including investments in human capital, infrastructure, energy, forestry, and agriculture.