The new AfDB finding highlights the country's commitment to narrow the investment gap in trade, energy, and transport while further expanding its leading position in central Africa.
Cameroon is making great strides in social services and infrastructure, a new report published over the weekend has shown. Going by the African Development Bank Group (AfDB) report, "Cameroon, has in the past decade taken steps to further boost growth, making major advances in providing health, education, and clean water, and launching an ambitious infrastructure investment programme to become a middle-income country by 2035." The AfDB Country Results Brief for Cameroon, which is the first in a series of summary reviews, presents the country's development progress over the last decade. It also points out the contribution of the AfDB in achieving the results as well as focusses on the Bank's High 5s: to light up and power Africa, feed Africa, industrialise Africa, integrate Africa and improve the quality of life of the people of Africa.
A series of indicators from the AfDB Results Measurement Framework (RMF) were used in assessing Cameroon's performance.
"Progress has been impressive, but a big leap in business competitiveness is required, to create a more diverse, inclusive, regional economy," Simon Mizrahi, AfDB Director of the Delivery, Performance Management and Results said.
Cameroon, which has the most robust economy in the sub-region, also now has the largest AfDB portfolio in central Africa and is among the ten countries in which the Bank invests most, with 22 ongoing operations representing commitments of over FCFA 560 billion.
Of these commitments, 54 per cent represent support to the national public sector, 29 per cent support to public projects with a regional focus and 17 per cent private sector support.
We learned in order to better serve Cameroon, AfDB recently expanded its Yaounde office, striking new partnerships to leverage more financing, and raising its investment to over FCFA 1,568 billion.