The collaborative efforts between the African Development Bank (AfDB) and Cameroon demonstrate a remarkable surge in funding commitments, yet converting these resources into actual expenditures remains a challenge. Since the implementation of the Country Strategy Paper (CSP) for 2023-2028, the pan-African institution has greenlit eight new initiatives for Yaoundé, totaling an impressive 833.8 billion FCFA. This sum represents 67.9% of the initial indicative allocation, which was set at 1,227.5 billion FCFA for the period. These figures were officially disclosed on July 17, 2026, by the Bank, following a joint review session held three days prior in the Cameroonian capital.

The acceleration in commitments is clearly evident. The AfDB now pegs its total engagements for Cameroon at 1,603.6 billion FCFA in 2026, a substantial increase from 1,226.2 billion FCFA at the onset of the CSP. This translates to a progression of 377.4 billion FCFA, or nearly 31%. Concurrently, the nation’s annual capacity to access sovereign window resources has climbed from 273.3 to 429.4 billion FCFA, marking a significant 57.1% rise. These statistics underscore renewed confidence from the multilateral lender in Cameroon’s financial standing.

Disbursement rate stuck at 26%

Despite these robust commitments, the actual conversion into real spending has lagged. The entire active portfolio, valued at 1,629.2 billion FCFA during the joint review on July 14, 2026, shows a cumulative disbursement rate of merely 26%. This ratio encompasses both operations initiated before the CSP and those approved since 2023. It does not imply that only 26% of the newly validated 833.8 billion FCFA has been utilized, but rather highlights the country’s persistent structural difficulties in absorbing available financing effectively.

The issues identified during the review are recurrent. Significant delays plague the signing and activation of financing agreements, the allocation of counterpart funds by the public treasury remains insufficient, and audit reports are often slow to reach the lender. These persistent bottlenecks impede every phase from project approval to actual execution, impacting the fulfillment of prerequisites, procurement processes, mobilization of contractors, and the release of funding tranches.

Transport and energy dominate funding

A sectoral analysis of the portfolio confirms a strong emphasis on heavy infrastructure. The transport sector commands 53.83% of the mobilized resources, followed by energy, which captures 22.32%. Agriculture accounts for 10.8%, and the social sector for 9.19%. When measured against the total value of the active portfolio, these proportions represent approximately 877 billion FCFA for transport and 364 billion FCFA for energy. Together, these two segments monopolize over three-quarters of the Bank’s exposure in Cameroon.

The Ministry of Economy highlights several achievements stemming from this partnership, including 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 operations are projected to create over 14,500 direct jobs, with a specific focus on youth and women. However, these projections remain contingent on the effective commencement of construction activities.

Decline in red alert projects

One indicator, however, signals a positive shift. The proportion of projects categorized as red alert — those facing threats to their timelines or objectives — decreased 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 operations signed but without disbursements for over fifteen months.

“We must transition from a procedural mindset to a culture of tangible results,” Léandre Bassolé, AfDB Director General for Central Africa, previously stated. Following the July review, the official underscored the vital 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 funding, streamlining procurement, and ensuring adherence to audit obligations. The latter half of the CSP will primarily be defined by the effective delivery of critical infrastructure.