Islamic Development Bank secures 253 billion FCFA for Cameroon

The Islamic Development Bank (IsDB) Group has signed five financing agreements in Yaoundé, Cameroon, totaling approximately 385.85 million euros (253 billion FCFA). These agreements aim to strengthen cooperation between the IsDB Group and Cameroon’s public and private sectors.

Key sectors targeted by this funding include energy, infrastructure, agriculture, education, health, SMEs, and the financial sector. One specific public sector initiative, the Dja Integrated Rural Development Project (PDRI-Dja), will receive approximately 41.92 million euros (27.4 billion FCFA) to bolster agro-pastoral value chains and promote sustainable food security.

During the IsDB Group Day event, attended by Prime Minister Joseph Dion Ngute and Minister of Economy Alamine Ousmane Mey, UNICEF Cameroon also participated to emphasize the importance of human impact. The organization highlighted the need for strategic alliances to ensure that financial opportunities translate into tangible benefits for children and vulnerable communities, such as improved access to education, health, and clean water.