EU backs Central African trade growth with €40 million corridor upgrade.
This strategic route connects Douala, Cameroon’s largest port and economic hub, to N’Djamena, the capital of Chad, facilitating trade and transport across Central Africa.
This investment is part of the EU’s Global Gateway initiative, a comprehensive strategy to promote sustainable infrastructure projects globally by mobilizing public and private sector financing.
Specifically, the funding for the Douala N’Djamena corridor is structured under a guarantee mechanism developed jointly by the EU and the International Finance Corporation (IFC). This mechanism is designed to reduce investment risks and encourage private sector participation in critical infrastructure projects.
Koen Doens, Director General for International Partnerships at the European Commission, emphasized the broader objectives of this corridor upgrade.
According to Doens, the project is not solely about improving trade logistics; it also aims to strengthen regional integration, generate employment opportunities, and enhance stability throughout Central Africa.
These goals align with the EU’s evolving approach towards Africa transitioning from traditional aid giving to fostering strategic partnerships and investments that support sustainable development and economic sovereignty.
The Douala N’Djamena corridor plays a crucial role in linking landlocked Chad with international markets through Cameroon’s port facilities, thereby facilitating the movement of goods, services, and people.
Enhancing this corridor is expected to reduce transit times and transport costs, which have historically hindered trade efficiency and economic growth in the region.
Source: Africabusinessinsider
