World Bank vice president visits Cameroon

Makhtar Diop, Vice President for Africa is in the country and he will spend five days in the country beginning from today to discuss a cross section of development authorities.

Cameroon’s accession to the International Bank for Reconstruction and Development(IBRD) , an institution of the World Bank group financing programme will be the focus of discussions between Makhtar Diop, World Bank Vice President for Africa and Cameroonian authorities from July 21 to 24.

The World Bank official who begins a five-day visit to the country today is expected to help deepen partnership between his institution and Cameroon. A press statement from the World Bank office states inter alia that he will meet government authorities, representatives of the private sector, the academic intelligentsia, and other development partners in the country.

The visit provides occasion for stakeholders to reflect together with the eminent development challenges facing Cameroon and above all how the World Bank can accompany the country towards emergence as well as optimise its programmes.

A visit to the Lom Pangar Hydroelectric reservoir largely financed by the World Bank will enable Makhtar Diop to assess the milestone covered. This particular project should be recalled that it holds one of the keys to the country’s development especially as it is expected to boost electricity supply by 30 additional Megawatts of low cost hydropower to the rural population and to industries.

The World Bank is financing the project at132 million dollars (FCFA 64 billion at a convertible rate of 1 dollar to FCFA 484). Apart from the series of discussions that would mark the visit, the World Bank official will sign a loan agreement with Cameroon to help finance the Information and Communication Excellence Centre Project.

The University of Yaounde I was chosen to host the project following a call for tender of the World Bank organised in partnership with the Association of African Universities. The centre that will enable Cameroonian students acquire competence in science and technology is being financed at eight million dollars (about FCFA 3.9 billion). Makhtar Diop was appointed World Bank Vice President for Africa on May 06, 2012.