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Rehabilitation of the Ngaoundéré-Garoua road: the AfDB approves a financing of 216.4 billion FCFA

17/12/2024
Source : ORISHAS FINANCE
Categories: Sectors

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Le 13 décembre dernier, le conseil d' administration de la Banque africaine de développement (BAD) approved in Abidjan (Côte d'Ivoire), a loan of 318.24 million euros (216 billion FCFA) to the State of Cameroon.

Un communiqué publié mentionne que le prêt de la BAD will be used for the rehabilitation of the Ngaoundéré-Garoua road. The bank plans to release 208 billion CFA francs while the African Development Fund, an institution of the African Development Bank Group, will grant a loan of eight billion CFA francs. Serge N'Guessan, Director General of the African Development Bank for Central Africa, said in a statement from the AfDB that “the political choice of the Cameroonian authorities in favor of the constant increase in the level of service of the Douala-Ndjamena corridor, which is 2,100 km long, is justified by the fact that it concentrates nearly 35% of the country's GDP and serves respectively 35% and 20% of the Cameroonian and Chadian populations. The rehabilitation of the most degraded section, Ngaoundéré-Garoua, will improve the performance of the Cameroonian road network in order to promote participation and private investment in the agro-industrial, transport and logistics sectors, along the Douala-N'Djamena corridor, and at the same time facilitate cross-border trade.” The rehabilitation of the Ngaoundéré-Garoua axis is part of the Transport Sector Support Programme

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