Cameroon secures $188bn AfDB loan for road projects

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APA – Douala (Cameroon) The African Development Bank (AfDB) has granted a CFA 188 billion loan to Cameroon for its road infrastructure projects, reports said Wednesday.

President Paul Biya has authorized the Ministry of Economy, Planning and Regional Development (MINEPAT) to sign an agreement with the AfDB for the disbursement of the loan.

There are two decrees ratifying the loan agreements of CFA177.2 billion with the AfDB and CFA10.6 billion with the African Development Fund (ADF).

This represents an overall budget of nearly CFA188 billion, which will be used to partially bankroll the second phase of the transport sector support project.

In addition, three roads will benefit from the loan namely the Yaoundé-Bafoussam-Babadjou stretch which connects the central and western regions, the Grand Zambi-Kribi road between the Center and the South of the country and the Maroua-Bogo-Pouss corridor in the Far-North region.

APAnews

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