Local Development : World Bank disburses 110billions to finance development projects
The World Bank has disbursed a total of 110billionsFCFAfrs to finance development projects in seven towns in Cameroon.
Two partnership agreements were signed on 28th February 2019 by the Minister of the Economy, Planning , and Regional Development , Alamine Ousmane Mey and World bank representative, and Operations manager , Elisabeth Huybens.
Out of the total amount, the World bank grants a loan of 16.4 billions to the Cameroon government.
World Bank : Financing local development
The first agreement worth close to 94billion will finance development infrastructures in 7 towns. They include; Yaounde VII, Douala V, Kumba, Batouri, Maroua, Ngoundere, and Kousseri.
The financial grant will improve access to urban structures , services and economic opportunities in impoverished neighborhoods in the seven select towns. The world bank aid serves as technical assistance for the Sanaga hydroelectric dam.
According to Minister Alamine Ousman Mey, some 651, 400 people will benefit from the project. The aid will also finance the construction of 33km of roads, 57.3km drainage system , rehabilitation of 900 hectares of marshy land and support to 300 competitive youth projects.
Following the donation, the Director General of the Electricity Development Corporation , Théodore Nsangou says the project will boost the production of energy at a cheaper cost.
Kathy Neba Sina