Cameroon - Project to Promote Entrepreneurship and Develop Skills for industrialisation (PEAC) — Cameroon

Overview

The proposed operation concerns a EUR 63 090 000 loan to the Republic of Cameroon to finance the Project to Promote Entrepreneurship and Develop Skills for Industrialisation (PEAC). The Project is in keeping with Cameroon’s National Development Strategy 2020-2030 (SND30). Specifically, it will support the implementation of SND30’s second and third pillars which seek to (i) develop human capital and well-being; and (ii) promote employment and economic integration. Bank financing is justified by the need to support Cameroon’s strategic orientations to reduce the shortage of skilled labour in priority sectors. This financing is also and above all justified by transformative measures that help to leverage human resource investment and sustain the resulting gains. This project will be implemented in synergy with other Bank-funded operations in Cameroon. It is structured around three components: (i) Building the capacity of the national vocational training system; (ii) Promote entrepreneurship and business competitiveness; (iii) Project Coordination and Management. The project contributes to climate finance, with 27 million USD of the total approved amount dedicated to adaptation.