ADB grants $321m to Cameroon

  1. Posted on Monday 18 May 2009 - 15:45
    Mforgham
    Image of Mforgham
    Solomon Tembang Mforgham, AfricaNews reporter in Limbe, Cameroon
    The African Development Bank has offered a loan of FCFA 156 billion (USD 321,233,555) to Cameroon for the development of road infrastructure and potable water in the country. The first ADB loan worth FCFA 128 billion is destined for a Cameroon/ Nigeria highway project which has been in the pipeline.
    Great B east Road b
    The loan shall finance, among other projects, the construction and develop of a 90km stretch from Enugu in Nigeria to Batchia and Bamenda in Cameroon.

    The second loan agreement signed between the ADB and Cameroon worth FCFA 28 billion (USD 57,634,913) shall finance the provision of potable water in some rural areas in the country.

    The loan was signed on the sidelines of the African Development Bank annual meeting organized in Dakar, Senegal.

    Cameroon’s Minister of Economy, Planning and Regional Development, Louis Paul Motaze, signed both agreements on behalf of the government of Cameroon.

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