The construction of the Lom Pangar Hydro Dam in East Cameroon for which the World Bank’s Board of Executive Directors approved an interest-free loan March 27, featured prominently in the discussion the Head of State, President Paul Biya had with Gregor Binkert, the bank’s Director of Operations to Cameroon last Friday, March 30 at the State House.
The one hour thirty minute-audience x-rayed with diligence the pathway the project, presently considered the live wire of the Cameroonian economy is following. “It is an important project which opens new perspectives for Cameroon. It goes beyond the simple production of electricity”, Binkert told reporters at the end of the audience. According to the World Bank official, the project will boost activities in the agricultural and industrial sectors as well as facilitate the construction of several other dams.
Following the approval of the US $132 million (about FCFA 64.9 billion) package last March 27, the Director of Operations told pressmen his institution will be disbursing the money by midyear. “In principle, the disbursement by the World Bank is earmarked for June/July this year”, he said, underscoring that the French Development Agency, one of the project financing partners will approved its financing in May while the European Investment Bank will finalised its own in June.
Other Development Projects
From every indication, last Friday’s audience was much more of a working session considering the multiplicity of topics handled. Agriculture, education and employment, road infrastructure public administration and the likely effect of the economic crises in Europe on Cameroon were all given close examination. “The Head of State equally talked about the country’s agricultural programme showing a lot of importance to it”, the World Bank official said, assuring that the World Bank “already has a programme in the agriculture sector and intends to do more.”
The issues of employment equally took central stage with focus on training that is job oriented. In effect, the World Bank has a battery of projects to finance in Cameroon and is encouraging the country to accelerate the consumption of the money put in place for them.
On whether the economic crises affecting countries in Europe will have any effect on Cameroon, Binkert said; “We have been looking at the numbers very carefully with the IMF and our analysis is that Cameroon is not suffering all that much.”
Cameroon -Nigeria
At the heels of the World Bank official, came Philip Ali Dauda, Nigeria’s High Commissioner to Cameroon. The 30-minute audience enabled the Head of State to bid farewell to the Nigerian diplomat who, after four years, has come to the end of his tenure of office in Cameroon. “I came to take leave of Mr President and to thank him for the support I have had during my duty here in Cameroon”, he told reporters after the audience. Philip Ali Dauda was particularly thankful to the Head of State for the assurances and encouragement looking at the cooperation and assistance that his country has received from Cameroon “at this period in time that Nigeria has some security challenges.” The future between Nigeria and Cameroon is really very bright, he said.
