Cameroon Borrows 50 Billion FCFA To Boost Digital Development

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

Cameroon Borrows 50 Billion FCFA

 A credit agreement between Cameroon and the World Bank was signed for this purpose on December 23. The Minister of Economy, Alamine Ousmane Mey, signed the draft and the World Bank operation director, Abdoulaye Seck.

Cameroon Borrows 50 Billion FCFA To Boost Digital Development

To foster the nation’s digital economy growth, the government has called in the World Bank. The two entities signed a credit agreement in Yaounde on Friday, December 23, 2022. 

The named project aims to strengthen digital inclusion and the use of digital agricultural solutions in Cameroon's agricultural value chain. 

Read Also: EU Gives 2.8 Billion FCFA to Stop Food Insecurity in NW & SW Cameroon.

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, specifically in agriculture and livestock.

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