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Yaoundé - 21 October 2018 -
Transport

Cameroon starts talks with funders for financing Ring-Road works

Cameroon starts talks with funders for financing Ring-Road works
  • Comments   -   Thursday, 11 October 2018 18:10

(Business in Cameroon) - The Ring Road project (358 km), a kind of road loop that will link the main cities of Cameroon’s North-West region, could soon benefit from investments. Indeed, the Minister of Public Works, Emmanuel Nganou Djoumessi (photo), recently met in Yaoundé with technical and financial partners involved in the transport sector including the World Bank, French Development Agency (AFD), Development Bank of Central African States (Bdeac) and the European Union.

“The hosts of the Minister of Public Works said they were considering several other funds in this segment, such as the major structuring Ring Road project, for which discussions have begun,” official sources said. The next step will then be to speed up procedures for funding.

Let’s mention that the project is significant both for partners and the government since it will contribute to develop Cameroon's Anglophone regions with high potential, namely the North-West and South-West. The Cameroonian government is seeking a total financing of about CFA155 billion for the Ring-Road.

During this meeting of financial partners, the World Bank reported an active portfolio representing 65% of total investments in Cameroon’s transport sector, currently estimated at nearly CFA875 billion.

S.A

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