Cameroon is to benefit from loans that will help develop road and rail transport – image courtesy of © Paulklee1879, Dreamstime.com
Cameroon is setting out its programme for a new transport development plan. The Cameroon Government intends to improve both road and rail links across the country.
A package loans worth a total of US$280 million is being provided that will help pay for the works. Loan providers will include the European Investment Bank (EIB) and the European Union (EU), giving $122.45 million and $19.73 million respectively.
The transport development work will provide a significant boost to Cameroon’s economy and will also help improve connections with neighbouring countries including Nigeria, Chad and the Central African Republic.
Meanwhile, the funding for the Kribi-Lolabe highway is being provided from China and the road should be ready for use shortly. The 31-year concession for the tolled route will be handled by the Chinese firm CHEC.
