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Cameroon-AfDB Cooperation : 12 billion CFA francs for the funding of Ring-Road

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L’accord de prêt y relatif a été signé ce 28 octobre 2019 à Yaoundé, par le Ministre de l’Economie, de la Planification et de l’Aménagement du Territoire, Alamine Ousmane Mey et le Directeur Général du bureau Afrique Centrale de la Banque Africaine de Développement, Ousmane Doré.

This is the first instalment of a major financial contribution of 167 billion CFA francs to fund the development and asphalting of National Road No.11, "the Ring Road" in the North-West region. This first deposit will enable the government to complete the technical studies necessary to carry out the asphalting work on this road.

In its substance, the project aims to interconnect 05 Divisions in the North-West Region, as well as to develop the significant economic potential of this Region. The Ring-Road forms a loop of Bamenda-Bambui-Ndop-Babesi-Kumbo-Nkambe-Misaje-Nyos-Wum-Bafut-Bamenda and includes several connections to the Nigerian border, including one from Misaje. Besides the funding mobilised for the asphalting of the Bamenda-Enugu corridor and the Babajou-Bamenda road, the execution of this project will add 208 kilometres to the existing length of asphalted road in the North-West Region. Social and economic development will also be carried out in favour of the populations within the project's area of influence for inclusive development.

On the sidelines of this important ceremony, the Minister of the Economy, Planning and Regional Development also signed the retrocession agreement conferring on the Lake Chad Basin Commission (LCBC), the management of the "African Development Fund" (ADF) loan of approximately CFAF 6.3 billion, concluded on 7 May 2019 with the AfDB, for the financing of the Project to Support the Socio-economic Reintegration of Vulnerable Groups in the Lake Chad Basin (PARSEBALT).