Washington, D.C., 12.10.2014
Dr. Ahmad Mohamed Ali, IDB Group Chairman, signed four financing agreements worth US$ 248 million with Cameroon, Cote d'Ivoire and Senegal on the occasion of the World Bank and IMF Annual Meetings in Washington, D.C. The IDB Group Chairman also signed Memoranda of Understanding (MoU) with the OPEC Fund for International Development (OFID) and Africare.
Of the two agreements signed with Cameroon, one (US$ 170 million) provides funding for the Allama-Kribi road in Cameroon, which is expected to enhance transportation facilities from the Kribi port while linking the country with Equatorial Guinea, Chad, and the Central African Republic. The second US$ 33 million agreement with Cameroon is aimed at reducing poverty by providing electricity to rural areas in the country in accordance with the National Strategy of Cameroon. The agreements were signed by Emmanuel Djoumessi, Cameroon's Minister of Economy, Planning, and Regional Development, and IDB Governor.
The US$ 35 million agreement with Cote d'Ivoire is for water supply project in the eastern region of Cote d'Ivoire and is expected to improve the social living conditions of three heavily populated cities. Niale Kaba, Cote d'Ivoire's Minister of Economy and Finance signed the agreement.
The fourth agreement with Senegal provides US$ 10 million to support the Malaria prevention program which is expected to eradicate Malaria in Senegal by the year 2018. The agreement was signed by Amadou Ba, Senegal's Minister of Finance and Economy and IDB Governor.
The MoU with OFID to strengthen existing cooperation between IDB Group and OFID was signed by Suleiman Al-Herbish, General Director of OFID while the MoU with Africare to enhance capacity building in Sub Saharan Africa was signed by Darius Mans, President of Africare.