Gov’t, World Bank seal 570 billion FCFA finance deals for dev’t projects.

The Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey, signed for government while bank's Director of Operations, Cheick F. Kanté, signed for the financial institution. 

The financing conventions to cover the energy, transport and decentralisation sectors were signed a high-level meeting on the occasion of the second visit to Cameroon of visiting World Bank Regional Vice President for Central and West Africa, Ousmane Diagana. The conclave feature keynote delivered by Alamine Ousmane Mey. 

Energy sector

World Bank Regional Vice President for Central and West Africa, Ousmane Diagana, said this is the first project of its kind in Cameroon. It is worth 300 million US dollars. 

He explained that its aim is to improve the financial viability and transparency of the electricity sector, and increase access to electricity in Cameroon. 

This project, he said, will also cover the country’s 2023-2027 energy sector recovery plan with structural reforms in the electricity sector. 

The World Bank representative estimates that thanks to the project, over a million people will benefit from electricity service for the first time, and 20,000 megawatts of solar capacity or additional voltaic will be added to the grid through public and private investment. 

The operation, he added, will also modernise transmission infrastructure to improve the quality of electricity supply, and increase the number of industries connected to the national grid.

Transport sector

The project in the transport sector aims to improve connectivity, resilience and inclusion in the Far North of the country and directly contribute to the region's special reconstruction and development program. 

Ousmane Diagana explained that it aims to maintain and rehabilitate a certain number of road axes, improve collective infrastructures in refugee camps and targeted communities, and generally strengthen the transport sector.

With a budget of 330 million US dollars, including 50 million US dollars earmarked for refugees and host communities, the project will enable 920,000 people, including over 120,000 refugees and internally displaced persons, to benefit from the rehabilitation of the 205 km Mora-Kousseri section, thereby improving access to schools, health facilities and markets.

Local governance sector

The Local Governance and Resilient Communities project is worth 300 million US dollars, the World Bank official disclosed, targets 180 municipalities with a total population of over 1.5 million. 

He said it aims to accelerate and deepen the decentralisation process, and strengthen governance to make decentralised local authorities poles of growth and development at both regional and local levels.

Through these projects, Ousmane Diagana asserts that thousands of Cameroonians will see their living conditions improve thanks to improved access to electricity, better connectivity, easier access to education and health services, and strengthened local governance.