African Development Bank Set to Boost Portfolio in Cameroon

The Vice President of the African Development Bank has announced plans to expand its portfolio in Cameroon, with the imminent opening of the EFTB regional office for Central Africa, to be hosted by Cameroon. The announcement came on Wednesday, April 9th, 2024, in Yaounde.

Marie-Laure Akin-Olugbade, Vice President for Regional Development, Integration, and Business Delivery Complex at EFTB, stated, “I had an opportunity to inform him and thank him for the invitation extended by the President to inaugurate the regional office of the African Development Bank covering Central Africa. We agreed to jointly open the office on Friday.”

During the meeting, the Prime Minister, Joseph Dion Nguté, facilitated discussions between both officials to review the cooperation between Cameroon and the African Development Bank. The EFTB portfolio in Cameroon currently stands at approximately 1500 billion CFA and is primarily focused on road development.

“I was able to explain the plans that we have for Cameroon, which include significantly expanding our efforts, accelerating our processes, and exploring innovative ways to support Cameroon further,” said Marie Laure in an interview with Radio Odas. “I was privileged to receive the guidance of His Excellency, the Prime Minister, and we expressed mutual satisfaction with the quality of the partnership between the African Development Bank and the Republic of Cameroon.”

Prime Minister Joseph Dion Nguté reassured the Vice President of the African Development Bank that the government of Cameroon is pleased with the support provided by the institution and is committed to upholding its end of the partnership.

Mimi Mefo Info