Collaboration between the African Development Bank (AfDB) and Cameroon has seen a substantial increase in approved funding, yet the actual utilization of these resources remains a persistent challenge. Since the implementation of the Country Strategy Paper (CSP) 2023-2028, the pan-African institution has greenlit eight new projects for Yaoundé, accumulating to an impressive 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 officially released by the Bank on July 17, 2026, following a joint review session held three days prior in the Cameroonian capital.
The acceleration of financial commitments is evident. By 2026, the AfDB’s total commitments to Cameroon reached 1,603.6 billion FCFA, a significant rise from 1,226.2 billion FCFA at the CSP’s inception. This represents an increase of 377.4 billion FCFA, approximately 31%. Concurrently, the nation’s annual access capacity to sovereign window resources climbed by 57.1%, from 273.3 billion to 429.4 billion FCFA. These statistics underscore the multilateral lender’s renewed confidence in Cameroon’s financial standing.
Disbursement rate stuck at 26% despite increased funding
Despite these robust commitments, the conversion of approved funds into tangible expenditures continues to lag. The entire active portfolio, valued at 1,629.2 billion FCFA during the joint review on July 14, 2026, exhibits a cumulative disbursement rate of just 26%. This ratio encompasses both operations predating the CSP and those approved since 2023. It signifies a structural difficulty within the country to effectively absorb and deploy available financing, rather than indicating that only 26% of the recently approved 833.8 billion FCFA has been mobilized.
The underlying causes identified during the review are recurrent. Delays frequently occur in the signing and activation of financing agreements. Furthermore, the allocation of counterpart funds by the public treasury often proves insufficient, and audit reports are consistently slow to reach the lender. These procedural bottlenecks impede every stage from project approval to actual execution, affecting the fulfillment of prerequisites, procurement processes, contractor mobilization, and the release of funding tranches.
Transport and energy sectors dominate financing
A sectoral analysis of the portfolio confirms a strong focus on heavy infrastructure development. The transport sector accounts for 53.83% of the mobilized resources, followed by energy, which captures 22.32%. Agriculture represents 10.8% of the funding, while the social sector receives 9.19%. When applied to 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 monopolize over three-quarters of the AfDB’s exposure in Cameroon.
The Ministry of Economy highlights several 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 tonnes of fertilizers and improved seeds. Ongoing projects are projected to generate over 14,500 direct jobs, with a specific emphasis on opportunities for youth and women. However, these projections remain contingent on the actual commencement of construction works.
Decline in red-flagged projects signals progress
One indicator offers a positive sign of improvement. The proportion of projects classified as ‘red alert’—those facing threats to their timelines or objectives—decreased 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 positive shift reflects the initial impact of the acceleration plan jointly adopted in February, which introduced performance contracts, monthly sectoral reviews, and prioritized the processing of operations signed but without disbursement for over fifteen months.
“We must transition from a logic of procedures to a culture of results,” stated Léandre Bassolé, the AfDB’s Director-General for Central Africa. Following the July review, the official underscored the critical role expected from the private sector in driving economic transformation. With nearly 68% of the indicative program already approved, the success of this partnership will hinge less on the volume of new announcements and more on the speed of execution: reducing administrative delays, securing national counterpart funds, streamlining procurement, and ensuring adherence to audit obligations. The latter half of the CSP will primarily be defined by the effective delivery of infrastructure on the ground.
