BIRD opens 3 year credit line of 360 billion FCFA

Taking advantage of its recent admission to financing from the Banque Internationale pour la Reconstruction et le Développement (BIRD) Cameroon will benefit from the opening of a line of non-concessional loans totalling $180 million (about 90 billion CFA francs) per year over the 2014-2017 period.

This information was given yesterday July 22nd during a working session of the Vice President for the Africa Region of the World Bank, Makhtar Diop.

In total, over a period of four years, this window of the World Bank Group will provide Cameroon, a total budget of 360 billion CFA francs.

Mr Diop said: "This will increase the amount of resources available through the institutions of the World Bank and we will also begin to see how some commercial projects could be financed with BIRD resources, and use more donation resources for social investment for a less commercial outcome than some other projects.”

As a reminder, the World Bank has a portfolio of 23 active projects in Cameroon, estimated by this Bretton Woods institution with an overall budget of more than 500 billion CFA francs.

Funding, which is so far from the International Development Association (IDA), the concessional window of the World Bank.