In his 2014 end of year address to the nation, the Head of State Paul Biya read-out a litany of projects planned for this year.
This second generation projects to cover the energy, water, road and highway and transport sectors, according to the President is on the heels of the first generation major projects that are either completed, nearing completion, or on track. Kribi Gas fired Plant and Port, dams and hydroelectric power plants (Lom Pangar, Memve’ele and Mekin), as well as some roads and various infrastructure projects are some of the examples.
The wish to see scores of projects crop up around the country is supported by concrete steps. In 2015, the budget for the Works ministry jumped significantly from 262,59 to 325,75 billion francs CFA.
With this envelope, government will begin the Douala-Yaoundé double carriage and Yaoundé Nsimalen roads. Also, the superhighway linking Yaoundé, and the seaside resort town of Kribi likewise Kribi-Lolabe (site of the Kribi deep seaport), the second bridge over River Wouri in the economic capital are also on the to-do list of the government.While at the national assemble to present government’s 2015 economic financial and socio-cultural projects, the Prime Minister and Head of Government, Philemon Yang outlined 15 more infrastructural projects. On the same pulpit he added the building and refurbishing of city streets across the country, likewise the opening –up of production basins and touristic sites. He also announced that government will begin tapping water from River Sanaga to Yaoundé, now suffering from a huge water shortage.However, the budget is not enough to start off these second generation projects, hence government brought in other sources of funding. Most of the projects cited have ready funds, while other will be funded through the triennial emergency plan hinging on urban development, health, agriculture, roads, energy, low cost housing and security adopted at the close of 2014 during the council of ministers at Unity Palace.
Worth 925 billion francs CFA, the money is borrowed from local and international banks. In separate decrees at the end of the year the President authorised the Minister of Economy to contract loans from these banks in the name of the state. Other than loans from the banks, government will also borrow from the public through the issuance of bonds; 320 billion francs CFA, according to the Minister of Finance, Alamine Ousmane Mey.But Cameroon can only pursue its development if there is security, according to the Head of State. He promised to tighten the security knot; fence off Boko Haram and assailants from Central African Republic from Cameroon.