The collaborative efforts between the African Development Bank (AfDB) and Cameroon reveal a significant surge in approved funding volumes. However, this momentum has yet to translate into an equivalent rate of resource utilization. Since the initiation 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 figure represents 67.9% of the initial indicative envelope, which was set at 1,227.5 billion FCFA for the period. These crucial financial statistics were released by the Bank on July 17, 2026, following a joint review conducted three days prior in the Cameroonian capital.

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

disbursement rate stubbornly stuck at 26%

Despite these robust commitments, the conversion of approved funds into tangible expenditures remains sluggish. 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 predating the current CSP and those approved since 2023. It is important to note that this does not imply only 26% of the recently validated 833.8 billion FCFA has been mobilized, but rather highlights Cameroon’s inherent structural difficulties in absorbing available financing.

The issues identified during the review are persistent. Delays plague the signing and effective implementation of financing agreements, while the allocation of national counterpart funds by the Public Treasury remains insufficient. Furthermore, audit reports frequently arrive late to the lender. These procedural bottlenecks impede every phase from project approval to actual execution, affecting prerequisite fulfillment, procurement processes, enterprise mobilization, and the timely release of tranches.

transport and energy dominate funding landscape

A sectoral analysis of the portfolio confirms a strong emphasis on heavy infrastructure. The transport sector commands 53.83% of mobilized resources, followed by energy, which secures 22.32%. Agriculture accounts for 10.8%, and the social sector for 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 Bank’s financial exposure in Cameroon.

The Ministry of Economy highlights several achievements stemming from this partnership: 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 improved fertilizers and seeds. Ongoing projects are projected to create over 14,500 direct jobs, with a specific focus on opportunities for youth and women. These projections, however, are contingent upon the effective commencement of construction work.

decline in red alert projects signals progress

A positive shift is becoming apparent through one key indicator. The proportion of projects flagged as ‘red alert’ – those facing threats to their timelines or objectives – has decreased significantly 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 effects of the acceleration plan jointly adopted in February, which introduced performance contracts, monthly sectoral reviews, and prioritized the processing of signed operations that have remained undisbursed for over fifteen months.

“We must transition from a procedural mindset to a culture focused on results,” Léandre Bassolé, the AfDB’s Director General for Central Africa, emphasized. Following the July review, Bassolé 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 compliance with audit obligations. The latter half of the CSP will primarily be defined by the actual delivery of crucial infrastructure.