Cameroon has approved a €347.5 million ($390.9 million) World Bank loan to finance the development of the Douala-Bangui Economic Corridor, strengthening transport and trade links between Cameroon and the Central African Republic.
President Paul Biya authorised the financing through a presidential decree, with the funds expected to support infrastructure along the corridor connecting Douala, Cameroon’s economic hub, with Bangui, the capital of the Central African Republic.
In a separate agreement, Biya also authorised Cameroon’s economy minister to sign a €212.35 million ($238.9 million) financing deal with the Islamic Development Bank for the rehabilitation of the Douala-Bafoussam highway.
The latest financing comes as Cameroon increases borrowing to support infrastructure development and address budget pressures. In August, the government authorised borrowing of up to 930 billion CFA francs ($1.67 billion) through domestic and external loans to finance development projects and clear outstanding obligations.
As Central Africa’s largest economy, Cameroon relies heavily on sectors including oil and gas, cocoa and timber. The government’s latest infrastructure push is aimed at improving regional connectivity, supporting trade and strengthening economic activity across the country and its neighbouring markets.
