AFD lends billions for major river clean

A multi-million dollar deal has just been signed for the partial financing of a major clean-up operation of Yaoundé’s Mfoundi river.

Anne Paugam, Director General of the French Development Agency (AFD), and the Cameroon Minister of Economy, Emmanuel Nganou Djoumessi, contracted a credit agreement of 52.5 billion CFA francs for the PADY2 project.

It aims to complete the pipeline of the Mfoundi river, which often causes flooding in the Cameroonian capital during the rainy season, as well as servicing and developing the area around the river that winds through several districts.

The AFD director said the company had disbursed between 60 and 70 billion CFA francs in 2014 for the benefit of the Cameroonian government under funding of various projects.

Since 2006, AFD has financed projects for nearly 1,000 billion CFA francs in Cameroon.