- The African Development Bank (AfDB) Group and Cameroon signed an agreement for a loan of over US $76 million to finance the Douala-Bangui and Douala ND'jamena road corridor, linking Cameroon, the Central African Republic and Chad.
The agreement was signed by AfDB's Vice President in charge of Infrastructure, Private Sector and Regional Integration, Mandla Gantsho, and Cameroon's Minister of Economy, Planning and Regional Development, Louis Paul Motaze.
The loan's main objectives are to contribute to the growth of intra- and inter-regional trade in the Economic and Monetary Union of Central African States (CEMAC) zone as well as enhance the efficiency of the transport chain, including road infrastructure, railways and access along the Douala-Ndjamena and Douala-Bangui Corridors.
“The Multinational Programme falls within NEPAD’s framework that is aimed at creating commercially and economically viable corridors devoid of barriers, formalities and unnecessary road blocks that are the only principal causes of undue delays and high transaction costs along these corridors,” Mr. Gantsho said after the Tunis signing ceremony.
He said that the bank is contributing US $174 million in loans and grants from its multinational window under the ADF-X for the road facilitation project estimated at US $410 million.
Cameroonian Minister hailed the “crucial role played by the AfDB in the success of this heart-warming and important operation."
“The Transport Facilitation and Transit Programme of the Douala-Bangui and Douala-Ndjamena corridor is part of a sub-regional strategic investment which will enable the Republic of Cameroun, a transit country in particular, and CEMAC member states to promote and facilitate regional integration by improving free movement of people and goods,” Mr. Motaze said.
He also expressed his government's gratitude to the European Union, the French Development Agency and the World Bank for their contribution to the project.
The project is expected to improve access to the port of Douala for Chad and CAR, help reduce poverty and improve the population's living environment and conditions, especially women.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español