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Cameroon Borrows 50.2 Billion F To Ease Digital Development 

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A credit agreement was signed for this purpose on December 23 between Cameroon and the World Bank.

 

To foster the nation’s digital economy growth, the government has called in the World Bank. The two entities signed a credit agreement on Friday, December 23, 2022, in Yaounde. The draft was signed by the Minister of Economy, Alamine Ousmane Mey, and the World Bank operation director, Abdoulaye Seck.

According to the Ministry of Economy, this credit agreement in the amount of 100 million US dollars, or approximately 50.2 billion FCFA, is intended to finance the project of fostering Cameroon digital transformation.

The said project aims to strengthen digital inclusion and the use of digital agricultural solutions in Cameroon agricultural value chain. Thanks to the funding made available by the World Bank, it will create a real strategic, political and regulatory framework favorable to an inclusive digital transformation in our country.

This project should also lead to better digital coverage and allow the implementation of databases facilitating innovations and the application of digital solutions in rural development and specifically in agriculture and livestock.

An improvement in production and a gradual migration to intelligent agriculture are expected given the many constraints imposed on us by climate change. The signing of this new credit agreement brings all of the World Bank Group’s commitments to nearly CFAF 1,900 billion for 21 projects in Cameroon.

 



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