EU pledges $96M loan to Cameroon to boost infrastructure

Associated Press

YAOUNDE, Cameroon (AP) — The European Union says it will lend 91 million euros to Cameroon over the next three years to boost the West African country’s infrastructure and attract foreign investment. The loan was announced Tuesday during a meeting between Cameroonian government ministers and an EU representative in Cameroon’s capital, Yaounde. Minister of the Economy Alamine Ousmane Mey told reporters the loan will help Cameroon to develop the energy sector, road infrastructure and a railway network connecting the country with neighboring landlocked Chad. The government has been struggling to rebuild Cameroon’s road, energy and port infrastructures, which have become seriously dilapidated in recent years.