Print this page
Cameroon: Government go borrowing again to revamp road sector

The world bank has warned the government of la Republique of Cameroon to cut spendings as its debt level has reached an alarming proportion.


Refusing to hit to advice, the minister of the economy, Louis Paul Motaze has gone ahead to borrow a sum of 187.804 billion fcfa from the African Development Bank ( ADB) and the African development fund (ADF).




Negotiations to grant the loan which is aimed at revamping some road networks in the country were finalised this Thursday 8th of June in Yaoundé between the representatives  of the ADB and  ADF and Luois Paul Motaze, Economy minister.

The two conventions pertains to the partial funding of the transport sector support programme- phase 2. This include;
The rehabilitation of the Yaoundé- Bafoussam - Babadjou road(241km),

The construction of the grand Zambi- Kribi stretch of road(53km),

And the construction of the Maroua - Bogo - Pouss section of road(63.16km)

The ADB is expected to provide 177.208 billion fcfa meanwhile the ADF will loan out the remaining 10.596 billion Fcfa.

Half of this fabulous sum of money borrowed will certainly go to private pockets rather than to serve the real purpose of development as mr Biya's government is reputed for high level corruption and embezzlement of public funds.

Concord Newsdesk

A plea from Cameroon Concord........

Thank you for reading our magazine, we have a plea to ask you our readers. Over the last two years, hits on our articles have been climbing, we have had an increase in clicks and also a broader reading audience on our social media channels.Our readers have been writing to us requestion for news updates from Cameroon/Southern Cameroons. We have as well been trying to give you the best we can, however, we are short of finances to recruit reporters to carry on independent and investigative journalism which takes a lot of time, money and hard work to produce. We are therefore pleading on you to support our efforts for this platform to be able to keep up the good work we are doing.

For as little as €1, you can support Cameroon Concord– and it only takes a minute. Thank you.

 

Website: www.cameroon-concord.com Email This email address is being protected from spambots. You need JavaScript enabled to view it.
X

Right Click

No right click

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…