African Development Bank approves €39.6 million loan to improve access to #Cameroon’s Kribi Industrial and Port Complex, soon to become the largest economic hub in #CentralAfrica.
The funds will complement the €114.33 million granted in October 2021 for the first phase.
These future road links will reduce transportation time and cost and generally, help improve livelihoods, particularly for local communities. They will interlink production, processing and consumption centers, easing the movement of raw materials and other goods across the subregion: #Cameroon, Central African Republic, #Chad, Equatorial Guinea, #Gabon, and the Republic of Congo.
"It reinforces the Bank's commitment to strengthening the complementarity of production systems for infrastructure development to stimulate intra-regional trade... This financing also strengthens our leadership in the infrastructure sector in Cameroon and Central Africa... particularly contributing to the development of road networks and refurbishment programs and projects, as well as strategic and technical studies." - Solomone Koné, African Development Bank Deputy Director General for Central Africa.
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