La signature de l’accord de prêt y relatif a eu lieu ce 18 juin 2021 à Yaoundé entre le Ministre de l’Economie, de la Planification et de l’Aménagement du Territoire, Alamine Ousmane Mey et le Directeur général de la Banque Africaine de Développement pour l’Afrique centrale, Serge N’GUESSAN.
This was a significant step towards the construction of the Ring Road, the national road no. 11, on 18 June 2021. The CFAF 106 billion representing the second installment of the partial financing of this road, resulting from the signing of the loan agreement between the Minister of Economy, Alamine Ousmane Mey and the Director General of Central Africa of the AfDB, Serge N'guessan, will be effectively allocated to the rehabilitation and asphalting of this important road. With a total length of about 365 km, the Ring Road interconnects five of the seven Divisions of the North-West Region and forms a loop (Bamenda-Bambui-Ndop-Babassi-Kumbo-Nkambe-Misaje-Nyos-Wum-Bafut-Bamenda) with a connection to the Nigerian border from Misaje. According to the Minister of the Economy, Alamine Ousmane Mey, this integrating project holds a multi-faceted importance.
At the political level, the construction of the Ring Road gives tangible evidence of the implementation of the recommendations of the Major National Dialogue. This is further proof of the commitment and determination of the President of the Republic to rebuild the Regions hit by the socio-political and security crises. On the economic level, this road will not only open up the agricultural, forestry and pastoral production areas but also the rich tourist potential of the North-West region. At the social level, the project implementation zone will be equipped with socio-economic infrastructures such as schools, storage facilities for agricultural products, and multifunctional centres for the empowerment of youth and women. Some of the towns crossed by the project will also benefit from urban roads and access roads.
Financially, this second tranche of CFAF 106 billion granted to Cameroon after a first tranche of about CFAF 12 billion in 2019 which served to complete technical studies, reflects, the AfDB's confidence in Cameroon as part of its funding, according to Alamine Ousmane Mey. The AfDB Director General for Central Africa, Serge N'Guessan, while acknowledging the importance of the Ring Road, which according to him will accelerate development and regional integration, pleaded for an effective start of the construction works before the end of this year, so that the people can enjoy the benefits of a road that will consolidate peace, development of the North-West and the interconnection with Nigeria. He also recalled that out of the total project cost of CFAF 167.3 billion, AfDB is contributing CFAF 117.8 billion, representing 87% of the total cost.
The Africa Growing Together Fund, AGTF, a trust fund of the AfDB-China cooperation, will provide funding in the order of CFAF 27.9 billion and the Cameroon government completes the rest, that is, CFAF 21.54 billion. The Ring Road construction project is part of the vast Transport Sector Support Programme which is being supported by the AfDB after the funding of the Batchenga-Ntui-Yoko-Lena road and the rehabilitation of the Yaounde-Bafoussam-Babadjou road. As for the AfDB's active portfolio in Cameroon, it is one of the largest in the Central African sub-region with 32 operations for a cumulative commitment amount of about CFAF 1,500 billion.