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PRESS RELEASE

World Bank Vice President for the Africa Region Visits Cameroon for Development Talks

July 20, 2014

YAOUNDE, July 20, 2014— The World Bank Vice President for the Africa Region, Makhtar Diop, will visit Cameroon from July 21 to 24, 2014 to hold discussions with Cameroonian authorities, representatives from the private sector and academia, and the development partners.

This visit by the Vice President will strengthen the partnership between the World Bank Group and Cameroon and will also feature discussions with President Paul Biya, and with key Government ministers. Discussions will focus on the development challenges facing Cameroon and on ways in which the World Bank can best help Cameroon optimize its development prospects.

The Bank Vice President will also visit the Lom Pangar hydropower construction site. This World Bank-funded project ($132 million) will boost the country’s economic development and increase access to clean reliable electricity for the people of Cameroon and local businesses.

Diop will also sign two major financing agreements: one for a Center of Excellence project in Cameroon, and the other for a strategic transport project.  Université Yaoundé I, in partnership with the Association of African Universities, was selected as a Center of Excellence in Information and Communication Technologies (CETICs). The International Development Association (IDA) will provide an $8 million credit to the center to equip Cameroonian students with high-level scientific and technological skills. A new $91 million transport agreement will reduce travel times, improve road safety, and reduce travel and freight costs for people and goods.

Diop will hold a joint press conference on July 23 with the Minister of Economy, Planning, and Regional Development, Mr. Emmanuel Nganou Djoumessi.

Cameroon became a member of the World Bank Group in 1963. The World Bank’s portfolio in Cameroon currently has 23 active projects, with a total commitment of $1.17 billion in zero-interest financing from IDA.

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PRESS RELEASE NO:
2015/036/AFR