📋 Tender Overview
The Minister of Economy Planning and Development Alamine Ousmane Mey and the Director General of the African Development Bank for the Central African Region Ousmane Dore signed the loan agreement for the first time. part of the Transport Sector Support Project phase 3 construction of the Ring Road for an amount of 17.96 million or about CFAF 12 billion.It was on October 28 2019 in Yaounde in the presence of Cameroonian officials and Bank Country Manager in Cameroon Solomane Kon.The Ring-road construction project is the third major intervention of the Bank in the vast program of rehabilitation and development of Cameroons road network. The Ring-Road is a total linear of about 365 km. It crosses five of the seven departments of the North West Region which has great economic potential and includes several connections to the Nigerian border.The total cost of this emblematic project of the Ring Road is estimated at 255 million euros or 167.3 billion CFA francs. It is co-financed by a loan from the ADB window of 179.60 million euros or 117.8 billion CFA francs a loan from the Africa Growing Together Fund AGTF of 42.60 million euros 27 9 billion CFA francs. The government of Cameroon brings 21.54 billion CFA francs.In view of the importance of the resources to be mobilized the option of financing in two tranches was chosen. The second tranche worth 161.6 million is in the process of appraisal and will be submitted to the Council before the end of the year.The start of activities with the signing of the first tranche will be a strong signal of the Banks commitment to support Cameroon in carrying out this operation. It will facilitate the mobilization of other technical and financial partners TFPs who have shown a real interest in the program. The sensitization of the populations of the zone of influence of the project the realization of the related facilities and activities for the benefit of women and young people will be taken into account in its socio-economic partThis first tranche will also complete the technical studies necessary for the realization of this infrastructure project which will link not only the main cities of the North-West region but also Cameroon to Nigeria and other regions of Central and West Africa.The Ring Road project is in line with the objectives of the 2010-2020 Growth and Jobs Strategy GESP adopted by the Government of Cameroon as well as with the Banks guidelines for infrastructure development. as defined in its 2013-2022 Long-Term Strategy. It will contribute to the implementation of two of the Top 5 operational priorities called High5 namely Integrate Africa and Improving the quality of life of people in Africa .Speaking on this occasion Minister Alamine Ousmane Mey welcomed this loan agreement before praising the excellent cooperation between Cameroon and the Bank Group. The signing of this loan brings to 30 the number of Bank operations underway in Cameroon for a commitment of more than 1340 billion CFA francs. He also took the opportunity to welcome the significant contribution of Mr. Ousmane Dor who is retiring at the end of October 2019.
