The partnership between the African Development Bank (AfDB) and Cameroon has seen a significant increase in funding commitments, yet actual disbursement remains sluggish. Under the 2023-2028 Country Strategy Paper (CSP), the pan-African institution has greenlit eight new initiatives for Yaoundé, totaling 833.8 billion FCFA—a figure representing 67.9% of the initial indicative envelope of 1,227.5 billion FCFA for the period. These figures were disclosed during a joint review held in the Cameroonian capital just days earlier.
The surge in commitments is undeniable. By 2026, AfDB’s total engagements in Cameroon have climbed to 1,603.6 billion FCFA, up from 1,226.2 billion at the start of the CSP—a 31% increase equating to 377.4 billion FCFA. Similarly, the country’s annual access capacity to sovereign resources has risen from 273.3 to 429.4 billion FCFA, a 57.1% jump. These figures underscore the multilender’s renewed confidence in Cameroon’s economic prospects.
Disbursement gap widens to 74%
Despite the surge in approved funds, the conversion into actual spending remains dismally low. The active portfolio, valued at 1,629.2 billion FCFA during the July 2026 review, shows a cumulative disbursement rate of just 26%. This ratio encompasses both pre-CSP operations and post-2023 initiatives, indicating that only a fraction of available financing is being utilized—a structural challenge for the nation.
Root causes identified during the review include protracted delays in signing and enacting financing agreements, insufficient provisioning of counterpart funds by the Treasury, and delayed audit reports. These bottlenecks cascade through every phase of project execution, from meeting preconditions and tender processes to securing contractors and releasing tranches.
Transport and energy dominate AfDB’s Cameroon portfolio
A sectoral breakdown reveals a heavy skew toward large-scale infrastructure. Transport accounts for 53.83% of mobilized resources, followed by energy at 22.32%, agriculture at 10.8%, and social sectors at 9.19%. Translated into absolute figures, this means roughly 877 billion FCFA is earmarked for transport and 364 billion for energy—together commanding over three-quarters of the Bank’s exposure in Cameroon.
Cameroon’s Ministry of Economy highlights key achievements from this partnership: over 570 kilometers of paved roads, the 420 MW Nachtigal hydropower plant, and the distribution of more than 133,000 tons of fertilizers and improved seeds. Ongoing projects are expected to generate over 14,500 direct jobs, with a focus on youth and women, though these outcomes hinge on the actual commencement of construction.
Red-flag projects drop by half
One positive trend is the decline in projects flagged as high-risk. The share of initiatives classified as red-alert—due to scheduling or objective threats—fell from 48% in late February to 26% by mid-July 2026, a 22-point improvement that brings Cameroon closer to the AfDB’s institutional target of 25%. This progress reflects early results from a February acceleration plan, which introduced performance contracts, monthly sector reviews, and priority treatment for deals stuck in limbo for over 15 months.
« We must shift from a procedural mindset to a results-driven culture », emphasized Léandre Bassolé, AfDB’s Director-General for Central Africa. Following the July review, he underscored the pivotal role of the private sector in driving economic transformation. With nearly 68% of the indicative program already approved, performance will hinge less on new announcements and more on execution speed—streamlining administrative delays, securing national co-financing, smoothing tender processes, and meeting audit deadlines. Insiders suggest the second half of the CSP will be won or lost on the ground, where tangible infrastructure delivery takes center stage.