The Board of Directors of the African Development Bank Group ( has approved a loan of EUR 74.25 million to Cameroon in Abidjan to implement the first phase of the Electricity Sector Recovery Support Programme (PARSEC). The programme will support the Cameroonian government to implement the reforms necessary in the energy sector in 2024 and 2025 so that, in the long term, the country can produce enough electricity to cover its national requirements of 5,000 megawatts and build a reserve to export energy to neighbouring countries, particularly Chad.

Africa, the only region without a safety net – AfDB President

The International Monetary Fund (IMF) has strongly supported a call by the African Development Bank Group ( urging countries in Africa to stop borrowing loans backed by their natural resources. The IMF Managing Director Kristalina Georgieva met Thursday with the President of the African Development Bank Group, Dr Akinwumi Adesina, in Abidjan, Cote D’Ivoire. It…

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