The Government of Cameroon, represented by the Minister in charge of the Economy, Louis Paul Motaze (photo), and the World Bank Group, represented by the Director of Operations Elisabeth Huybens, on 7 June 2017 in Yaoundé, signed two loan agreements for a total amount of US $ 425 million, or about CFAF 262.3 billion.
It was initially a loan agreement worth US $ 100 million, or about CFAF 60 billion, to finance the Livestock Development Project (Prodel). This project will be implemented for 6 years and aims to improve the productivity of targeted livestock systems and the marketing of beneficiaries’ products. This will provide a rapid and effective response to any crisis or emergency that may occur in the livestock sector. Prodel therefore targets six sectors: bovine milk, bovine meat, small ruminants (sheep and goats), pigs, poultry (eggs and flesh) and honey.
The second loan agreement in the amount of approximately CFAF 202.3 billion relates to the financing of the Electricity Transmission and Sector Reform Project to be implemented by the National Transport of electricity (Sonatrel). Over five years, there is talk of improving the capacity, efficiency and reliability of the national electricity grid. This will include the reinforcement of radial transmission lines in the cities of Douala and Yaoundé, and the strengthening and stabilization of three national transport networks. Namely, the interconnected North, the South and the East.