The collaborative efforts between the African Development Bank (AfDB) and Cameroon are witnessing a significant increase in approved funding volumes, 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 operations for Yaoundé, totaling 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 critical figures were unveiled on July 17, 2026, by the Bank, following a joint review session held three days prior in the Cameroonian capital.
The acceleration of financial commitments is undeniable. The AfDB now reports its total commitments to Cameroon reaching 1,603.6 billion FCFA in 2026, a substantial rise from 1,226.2 billion FCFA at the CSP’s inception. This marks an increase of 377.4 billion FCFA, or nearly 31%. Concurrently, Cameroon’s annual capacity to access funds from the sovereign window has surged by 57.1%, climbing from 273.3 to 429.4 billion FCFA. These statistics clearly signal a renewed confidence from the multilateral lender in Cameroon’s economic trajectory.
Disbursement rate stuck at 26%
Despite these robust commitments, their conversion into actual expenditures continues to falter. 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 merely 26%. This ratio encompasses both operations initiated before the current CSP and those approved since 2023. It underscores a structural hurdle the nation faces in effectively absorbing available financing, rather than suggesting only 26% of the newly approved 833.8 billion FCFA has been mobilized.
The underlying causes identified during the review are recurrent. Significant delays plague the signing and activation of financing agreements, while the allocation of counterpart funds from the Public Treasury often proves insufficient. Furthermore, audit reports frequently arrive late to the lender. These procedural friction points impede every stage of project implementation, from initial approval to effective execution, affecting prerequisite fulfillment, procurement processes, company mobilization, and the timely release of tranches.
Transport and energy dominate funding
A sectoral analysis of the portfolio confirms a heavy concentration on large-scale infrastructure projects. The transport sector alone 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 translated to the total value of the active portfolio, these proportions equate 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 proudly highlights several achievements stemming from this partnership: the construction of over 570 kilometers of roads, the Nachtigal hydroelectric plant with its 420 MW installed capacity, and the distribution of more than 133,000 tons of fertilizers and improved seeds. Ongoing projects are projected to generate over 14,500 direct jobs, with a specific focus on empowering youth and women. These promising projections, however, are contingent upon the actual commencement of construction activities.
Decline in red alert projects
A positive shift is evident in one key indicator. The proportion of projects classified under a ‘red alert’ — those facing threats to their timelines 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 outcomes of the acceleration plan jointly adopted in February, which introduced performance contracts, monthly sectoral reviews, and prioritized the handling of operations signed but without disbursements 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, the official stressed the crucial 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 tangible delivery of infrastructure on the ground.
