AFD injects 42.6 billion CFA francs for development in Cameroon

The French Development Agency (AFD) has just signed a loan of 42.6 billion francs Cfa in favour of Cameroon, in order to finance the regional capitals C2D programme.

After a decree by the head of the State, the economy Minister Emmanuel Nganou Djoumessi was enabled to sign the loan agreement on behalf of Cameroon.

After investments in the two main cities of the country (Yaoundé and Douala) under the first C2D programme for regional capitals, funds for the 2nd C2D is intended to develop the basic infrastructure and improve the lives of people in the towns of Bafoussam, Bertoua and Garoua, capitals of the western the East and North regions respectively.

The programme has a total budget of 90 billion francs, of which 8 billion will be funded by the Cameroonian State. The loan of 42.6 billion Cfa francs that AFD accords under this program, we learn, comes in addition to a grant of 39.4 billion francs Cfa, including a naming convention signed on November 24, 2014 in Yaoundé between AFD and the Cameroonian Government.

According to our sources, 25% of the projects under this program will be under local project management, a part of financing being directly put at the disposal of urban communities.

Specifically, the funds will go towards "rehabilitation of structural roads and expansion of up to 100 km; to grading and rehabilitation of 22 km of drainage in the town of Garou; development of 8 major markets and a bus station, the development of more than 250 000 m² of public spaces; improve the basic services in disadvantaged areas, the construction of 60 latrines, and so on».