Trade finance news

AfDB backs project to link up Central Africa

Last Updated September 28, 2009

The African Development Bank (AfDB) Group has approved a financial package worth US$190mn to link up Congo and Cameroon and facilitate trade between the two nations. This funding from the African Development Fund, the concessional window of the AfDB Group, comprises a grant of 61.9mn units of account (US$97mn) and a loan of 59.27mn units of account (US$93mn).

The Ketta-Djoum road and the Brazzaville-Yaoundé transport corridor facilitation project will assist in strengthening regional integration in Central Africa.

It will enable interconnecting highways linking Cameroon, Congo, DRC, Gabon, Equatorial Guinea and Central African Republic. In addition to improving the movement of people and goods between Congo and Cameroon, it will open up areas with significant economic potential in northern Congo (such as agriculture, ore and timber) and in the south-eastern part of Cameroon.

The 504.5-km Ketta-Djoum road is a major link on the 1,612-km highway connecting the two capital cities of Brazzaville (Republic of Congo) and Yaoundé (Cameroon). At completion, the project, to be implemented in two phases, will provide a completely paved corridor between Brazzaville and Yaoundé.

“No permanent road connection actually exists between the capitals of the two countries (Yaoundé and Brazzaville),” says Ali Kies, manager, transport division, at the African Development Bank. “The road sections between Ketta and Djoum along this axis are in an advanced state of disrepair, thus cutting off regions that it crosses. As a result, huge agricultural, mining and tourist potential remain untapped, constituting a setback to the development of trade between the two nations and in the Central Africa sub-region.”

The first phase of the project, funded by the African Development Fund, includes, (in Congo), paving of the Ketta-Biessi section (121 km) and minimal works on the Biessi-Cameroon border earth road section (195 km). In Cameroon, it involves minimal works on the Congo border-Mintom earth road section (105.5 km) and paving of the Mintom-Djoum section (83 km). Phase II of the project will comprise paving the remaining Biessi-Cameroon border earth road section (195 km) in Congo and paving the remaining Congo border-Mintom earth road section.



Share This

Share |

Reader Comments

Add your comment

 
Email Icon
Follow Us on Twitter
Follow GT Review on
Twitter for the latest updates

twitter.com/gtreview

The endless arguments about why Africa is not trading within Africa are wearing thin. It is time for a coherent action plan to be drawn up, says GTR editor, Rebecca Spong.

 

GTR’s annual search for the best trade institutions in Asia has begun. Voting closes May 17.

Click here to book your entry to the GTR Directory 2012/13

GTR Directory 2012/13

Latest Conference Highlights


Lebanon
Beirut - June 6, 2012 
United States
New York - June 12, 2012 
The Netherlands
Amsterdam - June 18-19, 2012 
Ghana
Accra - June 26-27, 2012 
Singapore
Singapore - September 3-5, 2012 
United States
San Francisco - September 18, 2012 
Egypt
Cairo - October 10, 2012 
Indonesia
Jakarta - October 24, 2012 
Qatar
Doha - w/c 4 November, 2012 
Malaysia
Kuala Lumpur - 6 November, 2012 

emeafinance, the complete information source for the finance industry in the EMEA region.

EMEA