Yaoundé, Cameroon – The Board of Directors of the African Development Bank Group (AfDB) has approved a loan of €203.11 million for Cameroon.

According to a news release by the Africa News Agency, the financial aid aims to support the Territorial Planning and Private Sector Promotion Project in the Far North region of Cameroon.

The European Union, a strategic partner of the bank, will further supplement the project with a €30 million donation from the EU-Africa Infrastructure Trust Fund. The project’s primary objective is to bolster regional planning, improve the transportation system, and promote private sector involvement for integrated and sustainable development in the region.