Three loan agreements worth FCFA 205 Billion have been signed with the aim of consolidating economic growth in the country.
The agreements were signed through “Exchange of Notes” between the Minister of the Economy, Planning and Regional Development, MINEPAT and the African Development Bank (AfDB).
The amount will be used to fund three (3) major projects in the country that will benefit the entire CEMAC Sub Region and beyond.
FCFA 147.85 Billion would be used for the Cameroon-Chad Electric System Interconnected Project.
The other project is the Livestock and Fishing Value Chain Development Project and the sum of FCFA 55.10 Billion has been set aside for it’s execution.
The last but not the least of the projects is the Programme for Integrated Development and Adaptation to Climate Change in Niger Basin. It shall be allocated FCFA 4.92 Billion.
By ordering the signing of these agreements, the Head of State wants Cameroon to consolidate it’s economic growth and enhance the Sub Regional Integration Process.
Communities in the Far North region of Cameroon that are yet to have access to proper electricity will benefit a lot from the electrification project.
Activities in Sub Sectors like Livestock and Fishing will be boosted to create wealth and jobs, thereby increasing environmental and development value chain.
Minister Alamine Ousmane Mey who spearheaded the agreements of 6 April 2020 on behalf of Cameroon did not hesitate to comment the multifaceted and constant support from the African Development Bank (AfDB) to be Development endeavours of Cameroon.
By Louvier Kindo Tombe