Cameroon, AfDB sign €136m loan deal to boost skills and jobs in Far North

Cameroon has signed a €136 million loan agreement with the African Development Bank Group (AfDB) to finance a five-year programme aimed at strengthening skills, creating jobs, and modernising infrastructure in the country’s conflict-affected Far North region.

The agreement for the initiative, known as Building Capacities and Skills for Employability and Entrepreneurship in the Extrême Nord Region (CAP2E), was signed in Yaoundé by Cameroon’s Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey, and the AfDB’s Director General for Central Africa, Léandre Bassolé.

Under the financing package, €130.2 million will come from the Bank’s non-concessional window, while €5.8 million will be provided by its concessional arm, the African Development Fund.

The programme will provide technical and vocational training for 6,000 young people, create at least 5,000 jobs – 40 percent of them for women – and support more than 500 small and medium-sized enterprises. It will also finance the construction or rehabilitation of 22 training centres and 29 social facilities, improve access to health and education services, and promote renewable energy solutions to strengthen climate resilience.

Speaking at the signing, Minister Mey said the project represents a major step in investing in human capital.

“The aim is to invest in human capital, strengthen the skills of local people and create job opportunities in promising sectors such as agriculture and renewables,” he said. “The programme will help to promote shared prosperity, reduce inequalities and consolidate social stability, with particular attention to young people and women.”

Bassolé described the initiative as “a genuine catalyst for transformation,” noting that it would improve infrastructure, boost entrepreneurship, and support solar energy. “Through this initiative, the Bank reaffirms its commitment to promoting the sustainable empowerment of young people and women by means of targeted, high-impact interventions,” he said.

The CAP2E programme aligns with Cameroon’s national development plan, the AfDB’s 2023 to 2028 country strategy, and the government’s Special Programme for the Reconstruction and Development of the Far North.