(Business in Cameroon) – Cameroon has drawn down 46% of its total funding from the African Development Bank (AfDB). Alamine Ousmane Mey, the Minister of Economy, announced this figure on October 17 in Yaoundé during a ceremony celebrating the 60th anniversary of the pan-African financial institution.
“Currently, our cooperation with the AfDB involves a portfolio of 26 projects totaling $2.5 billion (approximately CFA1.5 trillion), with a disbursement rate of 46%,” Mey explained. He noted that the funding primarily supports infrastructure, transport, energy, and agriculture projects, which make up 58.6%, 21.2%, and 10.8% of the total funding, respectively.
As Africa’s leading multilateral financing institution, the AfDB has played a crucial role in providing financial resources for over 6,500 development projects across the continent throughout its history.
