Over the last four years, the African Development Bank (ADB) investment portfolio in Cameroon has quadrupled, as explained to the government daily by Racine Kane, resident representative of this Pan-African financial institution. It was in Bertoua, in the eastern region of the country, after a meeting to evaluate the implementation of projects financed by the ADB.
Indeed, Kane says, the institution’s portfolio “currently stands at over $ 1 billion, more than 680 billion CFA francs in terms of commitments and support“. It concentrates “mainly on infrastructure, in particular transport and energy (…) We also intervene in the field of water and sanitation. We also have interventions in the agricultural sector, including the development of value chains, “he said.
According to Racine Kane, the partnership between Cameroon and the ADB “is evidenced by an increasing confidence of the technical and financial partners in the implementation of Cameroon’s development program. This has resulted in the graduation of Cameroon since June 2014, that is to say that the country can take money at all the counters of the ADB “.
Moreover, the sky of the cooperation between Cameroon and the ADB is obscured by a few clouds. Racine Kane says, “The start of projects is late, but above all the late mobilization of counterpart funds and the issue of procurement” in Cameroon. But, reassures the ADB’s resident representative, “we are in contact with the government in the framework of a continuous dialogue to remove these difficulties. This is the reason why, once a quarter, we organize reviews to see bottlenecks in portfolio execution and improve performance. “