ADFD approves $15mn loan for strategic infrastructure project in Cameroon
Since its inception in 1971 the ADFD has funded development projects in 95 countries, including 40 African nations
The Abu Dhabi Fund for Development (ADFD) has approved a concessionary loan worth $15 million for the development of the Olama-Kribi Road project in Cameroon.
The 204km road is to link the capital Yaoundé to Kribi, the latter is one of the largest seaports in the country.
According to a statement, the move is aimed at enhancing the country’s transportation sector and is expected to stimulate Cameroon’s economy, facilitating trade exchange, as well as easing the movement of people, vehicles, and goods.
“ADFD is proud to work as a strategic partner with different governments to help achieve their development objectives with a focus on financing projects that improve infrastructure and drive sustainable economic growth,” explained ADFD director-general Mohammed Saif Al Suwaidi.
He made the remarks after signing the deal with Iya Tidjani, ambassador of Cameroon to Saudi Arabia in the presence of deputy director general Khalifa Al Qubaisi and Mebouegue Donancien, Consul of Cameroon in Dubai.
Al Suwaidi also said that the development of the transportation in Cameroon will boost nationwide and cross-country trade.
