Yaounde, Cameroon Africa, October 2010 (news.cameroon-today.com)  -  World Bank has offered to provide the government of Cameroon with 15 billion Francs CFA.

Cameroon World Bank / IMF Spring Meeting

The World Bank has already sanctioned the government of Cameroon a grant amounting to a sum of 15 billion FCFA. The money is expected to be used towards improving and promoting sectors like tourism and wood. The agreement that amounts to these effects was signed between the representatives of the World Bank and the country on Tuesday.

The reason why these sectors were chosen is because these are undoubtedly the most robust sectors in the country. Cameroon is tha largest exporter of wood and timber to the European Union and a major landmark deal was just inked between the two countries to prevent illegal logging and export of timber that has been felled without permission. Though this was touted to be a move to reduce deforestation the country is going to benefit monetarily also from it. This in tandem with the grant from the World Bank is going to see some positive activity and growth in the wood sector.

The reason why tourism was chosen is because the sector shows a lot of promise not only on the growth front but also in terms of offering employment. The money will be deployed towards improving the conditions and infrastructure of the country resulting in improving its competitive advantage globally and increasing the tourist traffic into the country.

A core portion of the money will also be deployed to convert domestic tourist spots in the region of Mount Cameroon, the administrative capitals of the West and North-west into top class destinations and towards the transformation of the beautiful yet untouched beaches of Kribi and the country’s much talked about yet totally unexplored and serene national park of Campo Ma’an.

The country can be optimistic of some fast paced activity in the employment and development front in both these sectors in the coming months.