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Cameroon, AfDB sign €136m loan deal to boost skills and jobs in Far North
['Obinna Ezugwu']
Business Hallmark
Cameroon has signed a €136 million loan agreement with the African Development Bank Group (AfDB) to finance a five-year programme aimed at strengthening skills, creating jobs, and modernising infrastructure in the country’s conflict-affected Far North region.
Under the financing package, €130.2 million will come from the Bank’s non-concessional window, while €5.8 million will be provided by its concessional arm, the African Development Fund.
Speaking at the signing, Minister Mey said the project represents a major step in investing in human capital.
“The aim is to invest in human capital, strengthen the skills of local people and create job opportunities in promising sectors such as agriculture and renewables,” he said.
The CAP2E programme aligns with Cameroon’s national development plan, the AfDB’s 2023 to 2028 country strategy, and the government’s Special Programme for the Reconstruction and Development of the Far North.