The AfDB funding will go for the second phase of the transport sector support programme
The Minister of Economy, Planning and Regional Development, Louis Paul Motaze has signed two loan agreements with the Resident Representative of the African Development Bank (AFDB) in Cameroon, Racine Kane. The loan accords worth FCFA 187.804 billion were signed yesterday in Yaounde and the funds will be used to finance the second phase of the transport sector support programme. While the first loan package amounting to FCFA 177.208 billion is made available by the African Development Bank, the second loan provided by the African Development Fund is FCFA 12.82 billion. The programme is expected to last four years.
According to Minister Motaze, the acquired funds will be used for the rehabilitation of the Yaounde-Bafoussam-Babadjou road, some 241 km. The construction of the Grand Zambi-Kribi road (53km), as well as the Maroua-Bogo-Pouss road and the Bogo-Pouss section (63.16km) have also been programmed. Besides the main 360 km of road which is under focus, the loan will cover the construction of urban roads, construction of 250 km of feeder roads, drilling of boreholes, rehabilitation of schools and health centers, amongst others in the Centre, West, South and Far North Regions.
The Resident Representative of the African Development Bank, Racine Kane said their institution was concerned about financing the development of the transport sector, especially the rehabilitation of the Yaounde-Bafoussam-Babadjou road because it links the English speaking part of the country to the French speaking part. Racine Kane also noted that the road connects to the already completed Bamenda-Enugu corridor. “The development of roads ensures wealth creation,” he explained.