Home / English / AfDB grants CFA98bn to partly fund 2018 State budget

AfDB grants CFA98bn to partly fund 2018 State budget

Business in Cameroon | Alamine Ousmane Mey, Cameroonian economy minister signed December 3 with Solomane Koné, AfDB’s country manager, a financing agreement relating to the second phase of the competitiveness and economic growth support program (Pacce II).

This agreement will see the African Development Bank grant Cameroon €150 million, about CFA98.39 billion, to partly finance the 2018 budget. Pacce II is expected to strengthen bases for a rapid, resilient and inclusive economic growth through better public financial management, improved governance and competitiveness of productive sectors (transport, energy and agriculture).

So far, AfDB’s investments in Cameroon amount to 1.27 billion Units of Account (UA), about CFA1,000 billion; a sum spread over 24 projects. In 2018 alone, the bank approved five projects valued at UA 221 million (about CFA177 billion) in water and sanitation, agriculture, transport and social development.

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5 comments

  1. Can loans from left to right, enable a country to emerge, however the way they see
    it?

  2. The heading of this post is misleading- AFDB GRANTS Cameroon… may sound as though this is a grant and not a loan. It should read, Cameroon borrows CFA 98 billion from AFDB to finance its 2018bbudget.

    And by the way, the budget deficit will run even bigger, as productivity in Anglophone Cameroon stays below 10 percent compared to the period before the crisis. I have earlier wrote that the government will borrow to plug the hole left by the Anglophone crisis.

  3. Fortunately, Kamto didn`t seat at Etoudi. But i doubt, if he knows that the disappointment,
    is worth more than the advantage{s}. The burden that the next leader of that Godforsaken
    country shall have after the greedy tyrant, will come to regret why fellow cameroonians, didn`t
    wage a serious civil war against biya and co syndicate.
    Even of old, countries were not run merely on loans.

  4. Paul Biya at his age and All frequent trips abroad due to health problems is costing Cameroon too much Money. Why would a country want to keep a president that Expensive ? I will Never Understand!

    • Foolishness is the DNA of all Formal French Colonies. They Inherited it from France. Right Now France is Deep in social Unrest because of poor public policies.

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