Cameroon: Record Increase in World Bank Financial Commitments in Fiscal Year 2016/17

In Cameroon, the World Bank's financial commitments reached a record level at the end of the fiscal year, which ended at the end of June, totaling more than $ 700 million. the World Bank, Elisabeth Huybens (photo). At the same time, the disbursement rate was increased to about 23%.

"Fiscal year 2017 is a very, very good year for our collaboration with the Government of Cameroon, because we committed ourselves to new projects for a larger sum than any year before. "She said.

"On our entire portfolio, we also had a very, very good result. Because we have projects that are going on average over a period of about five or six years, what we're looking for each year is to get 20% disbursement rates. In 2017, it was again possible to disburse at a slightly higher rate, at almost 23% "

In particular, $ 325 million was granted to the newly created National Electricity Transmission Company (Sonatrel), a public company created in 2015. $ 195 million to support a transport sector development project that covers the ongoing rehabilitation of the Babadjou-Bamenda road, 40 km long and a section of the Bafoussam-Bamenda road. The livestock sector received $ 100 million to strengthen its competitiveness.

The Bretton Woods institution has also granted the Cameroon executive a financial package of $ 23 million through technical assistance for governance and regulation in the field of mineral resources. An equivalent amount was unblocked to enhance the development of the hydroelectric potential on the Sanaga River. Other projects and sectors have also received contributions from the financial institution, according to the official.

For the fiscal year that has just begun, the bank has already approved funding of $ 160 million for an urban development project. The basic education sector could also benefit in the next few days from the approval of financial support valued at $ 100 million.


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