The African Development Bank (AfDB) finally has an office in Central Africa. Cameroon, the subregion’s economic flagship, has been chosen as the site for this 4-hectare building. It is located in the first arrondissement of the city of Yaoundé, at the crossroads of multilateral cooperation with Equatorial Guinea, the Central African Republic (CAR), Congo, the Democratic Republic of Congo (DRC), Gabon and Chad, which have set up their diplomatic representations in the same commune.
The financial institution’s new office was inaugurated on 12 April 2024 in the presence of Cameroon’s Prime Minister. “These premises will enable our financial institution to be closer to the realities of the sub-region and to provide more than in the past a specialised support in line with the expectations of our populations”, declared Joseph Dion Ngute.
For her part, AfDB Vice President Marie-Laure Akin-Olugbade suggested that the “physical” presence should strengthen operations on the ground as well as dialogue with national authorities, regional economic communities, development partners and business with the private sector. These different players are essential to achieving the Sustainable Development Goals (SDGs) in Central Africa.
The AfDB in close contact with the work on SDG6 and SDG7 in Cameroon
In this regard, the AfDB is particularly supporting the implementation of the SDG6 on water and sanitation and the SDG7 on clean energy in Cameroon. The pan-African bank is co-financing the second phase of the Yaoundé sanitation project (Pady 2) to the tune of €21 million. The aim is to build a 6km drainage canal on the Mfoundi river catchment area, “equipped with two riverside lanes and crossing structures in places”, four 8km drainage canals on tributaries and a pilot unit for discharging and treating domestic sewage sludge. The new Yaoundé office will make it easier for AfDB teams to keep abreast of progress on the Pady 2 project.
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There is also the Lom Pangar hydroelectric development project, launched in 2012, which received financial support of 32 billion CFA francs from the AfDB (nearly 50 million euros). At a total cost of 240 billion CFA francs (360 million euros), it comprises a storage dam (6 billion m3 of water) and a 30 MW hydroelectric power station that has been producing electricity since May 2023. According to the Cameroonian authorities, these facilities should accelerate electrification and regional integration, as well as improve the business climate, in line with the AfDB’s leitmotiv.
Benoit-Ivan Wansi