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Cameroon – AfDB: On visit to Cameroon, the President of the AfDB explains his projects for the country

Visit to Cameroon, the President of the ADB declines his projects for the country
Written by Deckson N.

Dr Akinwumi A. Adesina, President of the African Development Bank (AfDB) Group, was received at the Unity Palace by President Paul Biya on Monday, 17 July 2017.

Faced with the press after nearly an hour of talk, the Group Chairman spoke of cooperation between Cameroon and the first African monetary institution. He spoke of an old relationship and mutual trust dating back to 1972.

Since then, he said, the Bank has provided more than US $ 2.5 billion, or nearly 1436 billion CFA francs, in loans and grants for projects in the fields of national and sub-regional in Agriculture, energy, water, sanitation, etc.

Other projects underway in Cameroon benefit from AfDB financing. This is the case of the Lom Pangar hydroelectric plant, which will eventually produce 30 MW of electricity to supply 150 localities in the Eastern region. Still in the field of energy, the banking institution has in its portfolio the Nachtigal dam (420 MW), with a financing contribution of US $ 150 million.

The President of the AfDB continued his plea for the industrialization of Cameroon. To this end, his institution intends to finance the creation of large areas for the production and processing of agricultural products.

Before leaving the Unity Palace, Dr. Akinwumi was raised by the President of the Republic to the dignity of Grand Officer of the National Order of Value.

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Deckson N.

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