ADB disbursed 990 billion CFA francs for Cameroon since 1972

A whopping 990 billion CFA francs has been given to the Cameroonian government in loans and grants by the African Development Bank since 1972.

This figure was revealed during a meeting between the Cameroonian economic operators and the ADB, in Doula, at the fiftieth anniversary of the regional financial institution.

These funds were used to finance 91 projects, mainly in the areas of infrastructure, agriculture, energy, water, sanitation and governance.

The Ministry of Economy says 21 projects are currently being implemented, including five for the private sector, which represents only 23 per cent of financial support from the ADB for Cameroon.

It is the last statistic which was the hot topic at Sunday’s meeting, which has enabled the Bank to introduce Cameroonian traders overall strategy for the development of Africa, especially its funding mechanisms and products financiers, so that the wealth creators benefit.