Brighter Prospects In Cameroon-AfDB Ties

President Paul Biya and the visiting Dr. Akinwumi A. Adesina in a State House audience yesterday examined ways of deepening the already fruitful win-win partnership.

Relations between Cameroon and the African Development Bank Group (AfDB) that date as far back as 1972 are expected to move to another level following commitments taken at the highest levels between the two parties. President Paul Biya and the visiting AfDB Group President, Dr. Akinwumi A. Adesina yesterday July 17, 2017 in a State House audience discussed ways of deepening the already fruitful ties for their mutual benefits.

Speaking to the press after the over one-hour discussions with the Head of State, Dr Akinwumi A. Adesina saluted Cameroon’s multi-dimensional efforts in surmounting numerous challenges. “I came here basically to express my appreciation for his leadership in Africa for a long time and secondly for the CEMAC sub-region which has helped a lot for the stabilisation of the macro-economic situation otherwise we would have seen the devaluation of the CFA Franc. I equally thanked him for the issue of security because there cannot be any economic development unless there is peace and security,” the AfDB President said. The Nigerian-born also used the State House audience to “congratulate President Paul Biya for the great job his government is doing with regards to the economy. Economic growth rate has gone down from about 5.9 per cent in 2015 to 4.7 per cent now but if you are a good swimmer and you put your head above water, you are doing well in a tough economic environment.” He said the audience gave him the opportunity to encourage President Biya to continue with the efforts of macro-economic stabilisation and also in diversifying the economy.

What Projections?

The AfDB, Dr Akinwumi A. Adesina disclosed, has been in Cameroon since 1972 and has invested about 2.5 billion dollars since that time. “Currently, we have investments of about 1.5 billion dollars for about 22 projects in the country. With the President, I discussed quite a wide-range of issues which go from energy as part of the plans for the acceleration of the development of Cameroon. President Biya has his plans in terms of energy,” he observed. Besides Lom-Pangar wherein the AfDB is already investing FCFA 35 billion, Dr Akinwumi Adesina said the bank is also into the Natchtigal project. He told the President the AfDB will invest 150 million dollars. “We also discussed quite much on agriculture. You know this country is quite rich in a terms of agriculture potentials. If you throw...