Cameroonian President Paul Biya signed a decree on Thursday, Jan. 29, 2026, ratifying two loan agreements signed with the African Development Bank (AfDB) Group. The loans total 89 billion CFA francs ($161.7 million).
The agreements were signed on Sept. 17, 2025, after being approved in May 2025 by the AfDB board of directors. They include 130.23 million euros from the Bank’s non-concessional arm and 4.69 million units of account, equivalent to about 5.8 million euros, from the African Development Fund, the Group’s concessional financing arm.
The funding will support the Capacities and Skills for Employability and Entrepreneurship (CAP2E) project. The project will be implemented in Cameroon’s Far North, a region facing a particularly high poverty rate, strong demographic pressures, the effects of climate change, and security challenges.
Over a five-year period from 2025 to 2029, the project aims to train 6,000 young people and create 5,000 decent jobs, with 40% reserved for women. CAP2E also includes the construction and rehabilitation of schools and social infrastructure, support for more than 500 SMEs and nearly 900 entrepreneurs, and improvements in access to education and health services.
The project will focus on growth sectors such as agriculture and renewable energy, while integrating sustainable solutions to strengthen climate resilience and promote long-term development. The programme adopts a results-based financing approach, with disbursements tied to the achievement of specific targets related to employment and business creation.
The Far North remains one of the country’s most fragile regions, with a poverty rate of 74%, high demographic pressure, and ongoing security and climate challenges. For the authorities, the project represents a concrete way to offer economic prospects for youth, support women, and stimulate the local economy while contributing to social stability.
The new financing also strengthens the AfDB portfolio in Cameroon. As of March 10, 2025, the portfolio already included 28 projects worth a total of $2.65 billion.
SG
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Jet fuel prices surge across African markets, rising from $0.74 to $1.40 per liter in Kenya after Middle East supply...
Despite decades of declining output, South Africa remains a major gold producer. While other leading African producers show year-to-year volatility, the...
Tinubu appoints Bianca Odumegwu-Ojukwu as foreign minister Predecessor Tuggar resigned to run in 2027 election Move part of broader foreign...
Kenya, Africa CDC sign deal for regional health centre Nairobi hub to serve 14 states, boost outbreak response Initiative aims to strengthen...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....