YAOUNDE, Cameroon — On Tuesday, the European Union announced its commitment to provide 91 million euros (approximately $96 million) to Cameroon over the next three years. This funding aims to enhance the country’s infrastructure and stimulate foreign investment.

The announcement came after a meeting involving Cameroonian government officials and an EU representative in the capital, Yaoundé. The loan is intended to support the development of Cameroon’s energy sector, upgrade road systems, and establish a railway network that will connect the nation with its landlocked neighbor, Chad, as detailed by Alamine Ousmane Mey, Cameroon’s Minister of the Economy.

Additionally, the funding will facilitate the building of a bridge across the Ntem River, linking Cameroon with Equatorial Guinea. The Cameroonian government has faced significant challenges in restoring its roadways, energy networks, and port facilities, all of which have deteriorated significantly over recent years. Furthermore, the country is experiencing a separatist conflict in the western region, which has led to more than 6,000 fatalities and displaced over 760,000 individuals, according to the International Crisis Group.

The EU is already investing in essential infrastructure projects within Cameroon, such as a hydroelectric dam situated in the country’s central region and a bridge connecting Cameroon to Chad. Minister Mey emphasized the aim of attracting private investors to oversee these projects, stating that the EU would assist in the reorganization and management of public finances.

Jean-Marc Chataigner, the EU Ambassador to Cameroon, indicated that the loan would depend on the government’s effective oversight of the funds. Corruption remains a significant issue in Cameroon, highlighted by a report from the National Anti-Corruption Commission that revealed a loss of over FCFA 114 billion (about $184 million) to corrupt practices in the year 2023.

Chataigner stressed the importance of ensuring that companies engaged in infrastructure development have unfettered access to the financial resources necessary for their work. This condition emphasizes the EU’s focus on accountability and proper fund management in order to maximize the potential benefits of the investment for the nation.