At presentation of 3WB reports
For a period of 4 years from 2025 to 2029, the World Bank and Cameroon will be working hand in glove in implementing the development goals of SND30. This new partnership was instituted last July 23 2024 by the World Bank’s constitutional council. To this effect, experts from the World Bank drafted three reports which will enable them double their support effectively in their interventions.
Last Tuesday was the moment to present the reports and exchange on their recommendations in the presence of Economy Minister Alamine Ousmane Mey.
They identified specific domains where the needs and difficulties of Cameroonians are immense and the impacts are abundant. The first report was a Regional report at the Cemac level known as the Cemac Economic Barometer. This report offers a view of development in the Cemac region, provides economic perspectives and principal obstacles to development in the Cemac region. It evaluates each government of the region, the creation of jobs amongst many. The report recommends the reinforcement of the Cemac zone of Central Africa in order to boost the growth of member countries.
According to the World Bank Country Director for Cameroon, Cheick Fantamady Kanté, “this report in addition to being a regional report, it also discusses how Cameroon can continue to play its leadership role in the region as the economic engine of Cemac.”
The second report was on the Economic situation of Cameroon in 2024. The analysis of this report presented the recent economic evolution that will structure Cameroon’s Economy. The scrutiny brought forth the various engagements of the World Bank in the objectives of the NDS30 Goals. It recommended the use of fiscal instruments for the purpose of development and durability.
The last report focused on the Review of Cameroon’s Public Finance. The survey revealed that Cameroon’s public finance should be equal as well as the allocation of budget.
Speaking to the press, Mr Cheick Fantamady Kanté said that the report proves that the government needs to invest more in social services where inequalities persist.
“The government should invest more in education, in health where most of the spending is happening at the individual family level and also more in social protection. Cameroon has to look at this as a national program with the vision to make sure no Cameroonian is left behind in this very case of Cameroon’s emergence.”
He concluded by reiterating the engagements of the World Bank in assisting the emerging country. “ We look forward in supporting the policies that the government will put into place and to investing in specific programs and operations to create more jobs for youths and women.”
Appreciation
The Minister of Economy, for his part, in his opening remarks expressed appreciation and recognition to the world bank.
“ I want to express the gratitude of Cameroon to the various authorities of the World bank for the excellent quality of cooperation that links both of us. I want
to reiterate on the quality of support of millions of dollars alongside the engagements from the World bank. All of these will add to what the SND30 has already successfully achieved in the creation of jobs in quantity and quality and the development of institutions and administration. I also want to congratulate all the experts who contributed in the realization of these 3 reports whose contents have given a structural state of Cameroon and have pertinent recommendations from a logical perspective.”
Recommendations
Cameroon needs more resources notably domestic resources which are very necessary to finance and ameliorate the public service in education, health and social protection and also the reinforcement of human capital. Cameroon was urged to reduce administrative expenditures and redirect them to various social services in order to reduce inequalities among regions in education, the payment of hospital bills.
Finally the World Bank in the reports made an endorsement for Cameroon to increase expenditures in matters of infrastructure of health centers in all the regions.
