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Cameroon – Economy: The African Development Bank worried about her investments in Cameroon

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Written by Deckson N.

The financial institution notes practices of poor governance that hamper the proper execution of the projects it finances in Cameroon.

A workshop to validate the results of the annual review of the portfolio performance of the African Development Bank (ADB) was held recently in Yaounde. During this meeting, Racine Kane, the resident representative of this financial institution, unveiled the problems that hinder the proper execution of the projects it finances in Cameroon, reads in the daily newspaper Le Messager Tuesday, November 15, 2016.

Among other obstacles to the smooth running of the many subsidized projects, late start-up of projects, low mobilization of counterpart funds and low disbursement of Bank commitments, delays in procurement, weak performance of enterprises and, finally, the slowness in the examination and the validation of the requests of payment of the companies, details the newspaper.

Building on all of the above, the ADB has sketches of solutions to solve these problems. “The ADB Group regularly supports the Government to improve the performance of the ADB portfolio in Cameroon. It is in this capacity that the bank organizes annually this review in order to identify the bottleneck, “says Racine Kane.

Indeed, according to the annual review, the results indicate that the performance of the ten national public sector projects is rated as moderately satisfactory, with a score of 3.05 on a scale of 1 to 4, reports the daily.

As a reminder, with regard to the ADB portfolio in Cameroon, as of September 30, 2016, it was valued at CFAF 603 billion, invested in 20 projects. In addition, the five regional public sector projects have a disbursement rate of 59.4% and the four private sector projects are 92%.

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Deckson N.

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