Tuesday, April 26, 2016

World Bank Asks Cameroon to Prioritize Investment, Else Funds Will be Suspended

Yes Madam Sri i agree with you, ENEO di ova cut light!!

The World Bank has outlined areas in which the Cameroon gov’t must focused investment initiatives in as prerequisite for the country to continue to accrue financial help from the bank.

Sri Mulyani Indrawati, Managing Director and Chief Operating Officer of the World Bank, made the observation during two separate meetings with PM Philemon Yang and some cabinet members in Yaounde, April 25.

In an interview granted reporters after her meeting with the Ministers of Finance and Economy, Alamine Ousmane Mey and Louis Paul Motaze respectively, she told reporters that the World Bank is particularly proposing reforms in Cameroon’s energy and power sector, transport, -particularly the reduction of transportation cost in the country and improvement in transportation quality.

Mulyani also disclosed to reporters that her discussions with government officials equally centered on the quality of human resource in Cameroon, adding that such is needed for Cameroon to move forward and become a middle and emerging country.

“We also talked about the health sector and how to improve spending by measuring performance and results. The sector of education with focus on affordability of textbooks for students; and how we are going to use our own support to make sure that the government’s ability to implement the reforms is credible and measurable,” she said.

The World Bank boss, pointed out some inconsistencies that exist on how the national economy is managed visa-vis where the Breton Woods institution would rather it focuses on.

 The World Bank wants government investments to promote inclusive growth and bring socially and economically beneficial results, by way of enhancing the living conditions of a majority of citizens.

Other sources say during the meetings in Yaounde, the World Bank Director also guided Cameroon on how to implement policies that target poverty reduction; between various sections of the country’s population and between Cameroon, Africa and other parts of the world.

She also spoke on the institution’s determination to help Cameroon initiate and implement structural adjustment programmes that affect the economy so that national growth could be accelerated; employment creation enhanced, and business environment made friendlier.

The World Bank is currently funding 20 projects doted all over some urban and rural communities in the country worth about $1.338 million,  under the Bank’s International Development Assistance, IDA scheme.

The World Bank is a major financier of development projects in over 77 developing nations that aim at reducing poverty and enhancing shared prosperity.

Sri Mulyani’s visit is coming barely four months after that of Christine Lagarde, the Managing Director of the International Monetary Fund, IMF. She was in Cameroon January 7-9.