The African Development Bank will disburse FCFA 12 Billion for the financing of the tarring of the 365 kilometre Ring Road in the North West region of Cameroon.
This is the substance of a loan convention signed Monday October 28, 2019 between officials of the African Development Bank and the Government of Cameroon, represented by the Minister of the Economy, planning and regional development Alamine Ousmane Mey.
The Ring Road cuts across five of the seven Divisions of the North West region namely; Mezam, Ngoketundjia, Bui, Donga Mantung and Menchum Divisions. It runs from Bamenda to Bambui, Ndop, Babessi, Nkambe, Misajee, Nyos, Wum, Bafut back to Bameda.
Reports say the tarring of this road will create impact in terms of poverty reduction, job creation, reduction in cost of transportation amongst other advantages.
The 12 Billion loan will help finance the first stage of the project, the global amount being estimated at some 167 Billion frs.