(Business in Cameroon) – The African Development Bank has approved CFA10,950 billion in financing for countries in Central Africa over the past 60 years since its inception in 1964. Cameroon and the Democratic Republic of Congo have been the biggest beneficiaries, receiving CFA2,978 billion and CFA3,862 billion respectively, accounting for over 62% of the total financing in the region.
The bank’s investments in Cameroon have accelerated over the past decade, with the launch of major infrastructure projects starting in 2012. As of April 1, 2024, the AfDB’s portfolio in Cameroon stands at CFA1,530 billion, representing 51.3% of the total financing approved for the country over the past 60 years.
A significant portion of the financing, 56.5%, has been allocated to the construction of road projects, which have connected Cameroon to neighboring countries such as Nigeria and Congo. The bank has also provided funding for the construction of the Lom Pangar and Nachtigal dams, which are crucial for the country’s energy sector. In addition, AfDB has also invested in the electricity sector, with 20.4% of the financing going towards projects in this area, and over 10% towards the agricultural sector. The bank has also continued to prioritize investments in the Far North, North-West, and South-West regions of Cameroon, as well as the East region.
