The Minister of Economy, Alamine Ousmane Mey, and the Director General of the African Development Bank for Central Africa, Serge N’Guessan, signed on September 20th in Yaounde, a loan agreement of 75 billion F, intended to finance the first phase of the project to develop roads to open up the industrial and port area of Kribi.
This phase, explained the Minister of Economy, aims to open up the deep water port of Kribi through the rehabilitation of the road Edea-Kribi and the construction of an expressway of 39 km between Lolabe and Campo. Phase II will consist of the construction and equipment of economic and social infrastructures for the benefit of the populations of the area of influence.
In the long term, we learn, this project will enable Cameroon to optimise the operation of the industrial and port complex of Kribi and promote regional integration in Central Africa, especially since the country is a transit zone. Specifically, the project will create permanent road links to improve the accessibility and connectivity of the Kribi industrial complex and port; reduce the overall transport time and costs at the national and regional level; and improve the living conditions of the women and men in the project’s area of influence.
To complete the implementation of the Port in seven years, an overall budget of 140 billion F has been agreed upon, co-financed by the AfDB and state counterpart funds. The AfDB’s share amounts to 100.9 billion, mobilised through two loan agreements.