Cameroon-AfDB partnership: strong financial commitments face disbursement hurdles

The collaboration between the African Development Bank (AfDB) and Cameroon demonstrates a significant increase in approved financial volumes, though the actual utilization of these funds remains a challenge. Since the implementation of the Country Strategy Paper (CSP) 2023-2028, the pan-African institution has greenlit eight new projects for Yaoundé, totaling 833.8 billion FCFA. This sum represents 67.9% of the initial indicative envelope, which was set at 1,227.5 billion FCFA for the period. These figures were released by the Bank on July 17, 2026, following a joint review session held three days prior in the Cameroonian capital.

A clear acceleration in commitments is evident. The AfDB now pegs its total commitments to Cameroon at 1,603.6 billion FCFA in 2026, a substantial rise from 1,226.2 billion FCFA at the onset of the CSP. This represents an increase of 377.4 billion FCFA, or nearly 31%. Concurrently, the nation’s annual access capacity to sovereign window resources has surged by 57.1%, from 273.3 billion to 429.4 billion FCFA. These robust figures underscore the multilateral lender’s renewed confidence in Cameroon’s economic prospects.

Disbursement rate stubbornly stuck at 26%

However, translating these substantial commitments into actual expenditures remains a significant hurdle. The entire active portfolio, valued at 1,629.2 billion FCFA during the joint review on July 14, 2026, shows a cumulative disbursement rate of merely 26%. This percentage encompasses both operations predating the CSP and those approved since 2023. While it doesn’t imply that only 26% of the recently validated 833.8 billion FCFA has been mobilized, it clearly highlights Cameroon’s inherent structural challenge in effectively absorbing available financing.

The issues identified during the review are persistent. Delays plague the signing and activation of financing agreements, the allocation of counterpart funds from the public treasury often proves inadequate, and audit reports frequently reach the lender behind schedule. These recurring obstacles impede every phase from project approval to effective implementation, affecting critical steps such as fulfilling preconditions, procurement processes, contractor mobilization, and the timely disbursement of tranches.

Transport and energy sectors dominate AfDB financing

A sectoral analysis of the portfolio confirms a strong emphasis on heavy infrastructure. The transport sector accounts for 53.83% of mobilized resources, followed by energy, which captures 22.32%. Agriculture represents 10.8%, and the social sector 9.19%. When calculated against the total value of the active portfolio, these proportions translate to approximately 877 billion FCFA for transport and 364 billion FCFA for energy. Together, these two segments command over three-quarters of the Bank’s overall financial exposure in Cameroon.

The Ministry of Economy highlights several tangible achievements stemming from this partnership, including the construction of over 570 kilometers of roads, the Nachtigal hydroelectric power plant with its 420 MW installed capacity, and the distribution of more than 133,000 tons of fertilizers and improved seeds. Ongoing operations are projected to create over 14,500 direct jobs, with a specific focus on empowering youth and women. However, these promising projections are contingent upon the actual commencement of the construction sites.

Decrease in red-flagged projects signals progress

A positive shift is becoming apparent through one key indicator. The percentage of projects categorized as “red alert”—meaning those facing threats to their timeline or objectives—has significantly dropped from 48% at the end of February to 26% by mid-July 2026. This 22-point reduction brings Cameroon’s portfolio closer to the AfDB’s institutional target of 25%. This improvement reflects the initial positive impacts of the acceleration plan jointly adopted in February, which includes performance contracts, monthly sectoral reviews, and prioritized handling of operations signed but without disbursement for over fifteen months.

« We must transition from a procedural mindset to a culture focused on results, » emphasized Léandre Bassolé, the AfDB’s Director General for Central Africa. Following the July review, he underscored the crucial role anticipated from the private sector in driving economic transformation. With nearly 68% of the indicative program already approved, the success of this partnership will depend less on the sheer volume of new announcements and more on the swiftness of execution. Key areas for improvement include reducing administrative delays, securing national counterpart funds, streamlining procurement processes, and ensuring compliance with audit obligations. The latter half of the CSP period will critically hinge on the effective delivery of infrastructure projects.