Cameroon African Development Bank loan to support growth and competitiveness

The African Development Bank (AfDB) and Cameroon have just signed a loan agreement of 80.4 million euros (about 52.74 billion FCFA) to finance the third phase of the Competitiveness Support Program and economic growth (PACCE III). This new loan is a complement to the previous agreements relating to phases I and II of the PACCE, signed in December 2017 and December 2018, for amounts of 180 million euros and 150 million euros respectively, thus bringing the total amount of support Bank Group multi-year (2017, 2018 and 2019) budgetary budgets to Cameroon at 410.4 million euros (or approximately CFAF 269.2 billion).