A detailed analysis shows a slight advantage for strictly national initiatives, with a ratio peaking at 20.3%, compared to a utilization rate of 17.2% for regional integration projects. The low level of credit line consumption is problematic given the historical volume of financial commitments made by the Bretton Woods institution in favor of Cameroon, with funds struggling to materialize into physical ground achievements.

The slow deployment of investments is illustrated by a very uneven distribution of fund utilization across themes. Only five national programs exceed the 50% threshold of allocated budget consumption, led by Prolac (100%) and Pulcca (99%) which are completing their operational cycle, followed by PDST (70%), Parec (66%), and PRRTERS (55%). At the opposite extreme, crucial initiatives for transportation and urbanization are stagnating at the bottom of the rankings. The Douala Urban Mobility Project (PMUD), with a budget of over 261 billion CFA francs, has a disbursement rate of 0.3%, while the Sewash water access program has a rate of 1% and the PCDN communal development plan has a rate of 0.8%. These underperformances result from a combination of technical factors: accumulated delays in public procurement, unresolved land conflicts, and managerial gaps within project coordination units.

The persistence of administrative blockages deprives the national economy of the direct impact of a global financial portfolio estimated at $4.5 billion, or approximately 2,700 billion CFA francs. The global envelope has increased by 21% in two years, following the injection of an additional $826 million (475 billion CFA francs) decided during the joint review in April 2025. The energy and transportation sectors alone capture $2.3 billion (approximately 1,380 billion CFA francs). In the face of the low reactivity of the state apparatus, the World Bank and the authorities in Yaoundé are considering emergency restructuring measures to reallocate dormant financing to more performing channels, in order to preserve the economic utility of the contracted sovereign debt.


Asaba

Tags: banque mondiale cameroun décaissement projets finances dette souveraine investissements économie développement