Cameroon Secures EU Loan to Boost Connectivity and Economic Growth

The European Union has pledged to loan $96 million to Cameroon over three years to enhance the country’s infrastructure and attract foreign investment. Announced during a meeting in Yaoundé, the funding will support critical projects, including energy development, road improvements, and a railway connecting Cameroon with Chad. Additional initiatives include the construction of a bridge over the Ntem River to link Cameroon with Equatorial Guinea. These efforts aim to rebuild the nation’s aging infrastructure, which has deteriorated over the past few years. According to EU Ambassador Jean-Marc Chataigner, the disbursement of the loan is contingent on transparent management of the fund. Cameroon officials have faced ongoing allegations of corruption, with a recent report by the National Anti-Corruption Agency revealing that the country lost $184 million to corruption in 2023.

SOURCE: AP NEWS