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This is why The World Bank just issued Cameroon a loan of 117 Billion frs!

On the 15th of October 2019, in Washington DC, the world bank’s director of operations in Cameroon; Abdoulaye Seck and the Minister of Economy; Alamine Ousmane Mey, signed the financial agreement on which the world Bank grants Cameroon a loan of  200 Million USD(117. 744Billion frs).

The loan is intended to finance the second operation of Support to Development Policies for fiscal consolidation and inclusive growth in Cameroon.

It is also about strengthening the protection of vulnerable people in the framework of the Social Safety Net Program, and of increasing the diversification of the national economy through the implementation of reforms aimed at improving the country’s competitiveness and thus reviving the private sector.

This agreement stems from the commitments made by Cameroon in the context of the implementation of its Economic and Financial Program concluded with the International Monetary Fund. It thus reflects the success of the satisfactory implementation of the structural reforms initiated since 2017, aimed at improving budget consolidation through the reduction of the budget deficit, transparency in the management of public procurement and the reduction of the expenditures of the state. 

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