European Investment Bank allocation to Cameroon hits 583 billion FCFA.

Roger Stuart of EIB with Ministers Bassilekin III, Ousmane Mey & Louis Paul Motaze after his working visit

The European Investment Bank, EIB, has invested not less than 583 billion FCFA in various projects in Cameroon during a period of 60 years of its operations in the country. 

This was disclosed by Roger Stuart, Head of the Regional Hub for West and Central Africa, for the European Investment Bank, at the end of his working visit to Cameroon recently.



Specifically, the sub regional boss of the European Investment Bank told journalists after a meeting with top government officials and other stakeholders that his institution has invested a total of 890 million Euros (equivalent to some 583 billion FCFA over that period).

Delving into details, Stuart said out of this gross investment package, 480 million Euros (about 314.4 billion FCFA), was allocated to public sector projects, while 410 million Euros (equivalent to 268.5 billion FCFA) went to private sector operators.

He clarified that for private financing, the European Investment Bank typically works by opening credit lines with local banks, allowing them to fund businesses at lower interest rates.

Stuart disclosed that on May 6, 2022, EIB signed two such agreements with Commercial Bank Cameroon, CBC, and CCA Bank, worth 12 million Euros (7.8 billion FCFA); and 15 million Euros (about 9.8 billion FCFA) respectively.

A similar initiative, he said, took place in 2020, when Société Générale Cameroon, the local branch of the French banking group, received a 10 billion FCFA credit line to help Small and Medium-Sized Enterprises, SMEs, access easier financing during the height of the global coronavirus pandemic.

Away from the private sector, the European Investment Bank Regional Head also disclosed what his institution spent much money to support and sustain Cameroon’s public sector. 

He disclosed that the most notable project his bank invested in was the railway renewal project, whose agreement was signed on May 5, 2022, involving more than 80 billion FCFA to upgrade 330 kilometres of rail line between Belabo in the East Region and Ngaoundere in Adamawa Region.

He also singled out the Nachtigal Hydro Electric Power Dam project as his institution´s largest public investment project in Cameroon.

The EIB official described it as a major energy infrastructure project with a planned capacity of 420 megawatts. Stuart revealed that as of 2022, the Nachtigal Dam project was considered the EIB’s biggest investment project underway in Sub-Saharan Africa.

On the same vein, in 2021, Stuart said the EIB also financed Cameroon’s entry into the African Trade and Investment Development Insurance by contributing 11.5 million Euros (about 7.5 billion FCFA). 

He noted that since then, the insurance company has supported the mobilisation of nearly 130 billion FCFA in investment for Cameroon, through products designed to mitigate political and commercial risk across Africa.

 

This article was first published in The Guardian Post Edition No:3450 of Friday May 16, 2025

 

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