EU offers $96 million loan to Cameroon for infrastructure development

The European Union has pledged a loan of 91 million euros ($96 million) to Cameroon over the next three years. This funding aims to improve infrastructure and attract foreign investment, focusing on energy, roads, and a railway to Chad. The loan was announced during a meeting in Yaounde, where officials discussed projects like a bridge over the Ntem River and improvements to dilapidated infrastructure. The EU is already involved in other major projects in Cameroon. The EU Ambassador emphasized that the loan's success depends on the government's management of the funds, amid concerns about widespread corruption in Cameroon. A recent report indicated significant financial losses due to corruption in 2023.