World Bank Assist Cameroon with 50 Billion
This sum was granted to the cameroon government to carter for health coverage and refugee management
On behalf of the government of Cameroon, the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey signed the agreement with the World Bank represented by the Coordinator of the Sustainable Development Pool of the World Bank, Issa Daw.
The agreement was in two phases. The first phase of the agreements aimed at will paving the way for additional funds for the third phase of the National Community Driven Development Programme (PNDP). Of some 48 million US dollars (about FCFA 27.8 billion) concerned, 8 million US dollars (circa FCFA 4.6 billion) is in the form of a loan while the rest in a grant. While the other part of the World Bank money will be pumped into the project for reinforcement of the performance of the healthcare system. Six million US dollars (about FCFA 3.5 billion) for this project costing 36 million US dollars (about FCFA 20.8 billion) has been accorded to Cameroon as a loan. The recent financing takes the World Bank’s portfolio in Cameroon to over FCFA 1,000 covering 15 projects in different sectors.
Speaking during the signing ceremony on December 15, 2018, the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey said, the funds provided by the World Bank will substantially support the country’s response to the humanitarian consequences since Cameroon is challenged in multiple actions to bring support to the population facing social and economic difficulties.
The minister of the Economy, Planning and Regional Development made mention of the fact that with the influx of Nigerian and Central African Republic refugees following political conflicts this agreement with the world bank will go a long way to strengthen to curb this phenomenon. To this effect, minister Alamine lauded effort of the World Bank for not hesitating to assist when need arises.
The funds made available by the World Bank will be used to put in place high quality and durable social amenities in local councils and facilitate access to them by the population, including refugees. The funds will also be used to put in place infrastructures in the education, health, water and sanitation sectors. The construction or rehabilitation of markets, community grain barns, irrigation channels, and farm-to-market roads is also envisaged. In the health domain, it will ease access to treatment in health centers as well as nutrition for infants.
The targeted beneficiaries of the funding are populations of the Far North, North, Adamawa and East Regions.
Statistics from the United Nation High Commission for Refugees shows that As of October 31, 2018, over 372,542 refugees in Cameroon.