ADB to capitalize on Cameroonian potential

The resolution comes within the framework of the institution's intervention strategy in the country from 2015 to 2020 presented at a seminar yesterday in Yaounde.

Infrastructure and sectoral governance are the major pillars of the African Development Bank intervention strategy in Cameroon for the period 2015-2020.

The future action plan of the financial institution was the subject of a seminar of dialogue between the government and the financial institution, co-chaired by the Minister of Economy, Planning and Regional Planning (Minepat), Emmanuel Djoumessi Nganou and the Resident Representative of ADB in Cameroon, Racine Kane.

In their respective speeches, the two presidents assessed the past year 2010-2014, while outlining the strategy of intervention of the financial institution in Cameroon to maturity ahead.

Results of the 2010-2014 Country Strategy

The overall performance of the bank's portfolio in Cameroon in 2014 is satisfactory. The common appreciation to the two main speakers is on the excellent results that achieved an average rating of 2.36 on a scale of 3, against 3.30 in 2013 and 2.15 in 2012.

In fact, from 2010 to 2014, the strategy included 19 operations, including 11 national, four regional and four in the private sector. Everything estimated at 608.8 million units of account with an overall collection rate of 46.07%.

According to Minister Emmanuel Djoumessi Nganou, this improving trend has earned Cameroon an elevation to a "mixed" country, that is to say, among other resources benefiting non-concessional windows of Group of the World Bank and the African Development Bank. This status which, moreover, provides an opportunity to mitigate the impact of the oil price fall while pursuing the financing of economic growth. The Minepat nevertheless found weaknesses due to the maturity of projects and delays in the execution observed.

Perspectives for the period 2015-2020

Bad accounts initially helped Cameroon through the strengthening of infrastructure for inclusive and sustainable growth. For Racine Kane, it will promote the value chain of agro-pastoral sectors and strengthen regional integration (CEMAC and CEEAC).

In addition, it will issue for the institution to strengthen governance by remedying the deficiencies in regulatory frameworks to ensure sustainability of investments.

For 43 years, the cooperation between Cameroon and the ADB resulted in funding 93 projects worth about 1.466 billion units of more than FCFA 1200 billion.

Racine Kane was optimistic for future projects in the light of the success of the previous strategy. However, he believes it will redefine attitudes to meet the performance of the ADB portfolio.