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Cameroon becomes the largest recipient of the AfDB’s financial assistance in the Central African Region with a XAF1,340 bln portfolio

Cameroon becomes the largest recipient of the AfDB’s financial assistance in the Central African Region with a XAF1,340 bln portfolio
  • Comments   -   Wednesday, 30 October 2019 14:42

(Business in Cameroon) - On October 28, 2019, Cameroon's Minister of Economy, Alamine Ousmane Mey (photo), signed a XAF12 billion loan agreement with the African Development Bank (AfDB), in Yaoundé.

The loan will be used to build a section of the Ring Road, which will connect the departments of the North West region to Nigeria. Indeed, the Ring Road is the missing link in the road already built between Bamenda (Cameroon) and Enugu (Nigeria).

According to Ousmane Doré, AfDB Executive Director for the Central African region, this project is the 30th in the portfolio of this pan-African financial institution in Cameroon. To date, the AfDB's portfolio in the country has reached a peak of XAF 1,340 billion, he said.

This, according to Ousmane Doré who will leave his post in "a few weeks", makes Cameroon the largest recipient of AfDB financial assistance in the Central African sub-region.

BRM

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