World Bank announces $390 million loan to Cameroon
Paul Biya authorised a loan of about 390 million dollars from the International Bank for Reconstruction and Development, a subsidiary of the World Bank. The money is to improve the Douala-Bangui corridor, modernising the road and easing trade between Cameroon and the Central African Republic. The route also serves Chad, since goods bound for N'Djamena use it for more than 800 km between Douala and Garoua-Boulaï.
Why it matters: It places the loan within the briefing's theme of sovereign debt and infrastructure finance: Cameroon is intensifying its recourse to international lenders while experts warn of over-indebtedness that could mortgage the future.