Overcoming Hurdles To Funding Projects

The past decades in Cameroon have been marked by the determination to realise major development projects. Moving from the Greater Ambitions to the Greater Achievements and currently to the era of Greater Opportunities, has necessitated the undertaking of key infrastructure across the country. In an attempt to make up for the growing deficit in energy supply, provide roads and other social amenities, President Paul Biya engaged the government on a number of fronts so as to ensure that projects are adequately realised and the living conditions of the population improved upon. But that has not been without challenges. One of the most crucial being securing funding for the mega projects.     
Speaking on 31December, 2023 the President presented a balance sheet and steps taken to produce some of the results which the country can boast of presently. The Head of State disclosed that financial resources have not always been easy to come by. “As you must be aware, this problem is at the core of my concerns. The related challenges are multiple, the most acute of them being the inadequacy of financial resources.”  The clear understanding in such a declaration is obviously that although the funds have been difficult to get, the country has continued to make strides. This is also a signal that in the midst of obstacles, the resolve to push forward has been constant and persistent, resulting in a number of development initiatives carried out.     
Of course, the demands keep growing with increasing demographic challenges. Most towns across the country have over the years witnessed a surge in population density, thereby putting much pressure on the existing resources. Understandably, emphasis on social amenities like water and electricity has remained primordial. Moreover, the need to get the country to the level of a middle-income nation by 2035 calls for the development of certain structures and a shift towards industrialisation to the extent that the energy needs of the country have continued to rise.     
Also, part of the difficulties in getting funding for some major projects has been the multifaceted sectors that warrant the attention of government. Such as the crises caused by the Boko Haram incursions in the Far North Region, the upheavals in the South West and North West Regions, meeting the demands posed by teachers in recent years and fuel subsidies which have forced the State to make certain sacrifices for citizens to maintain certain living standards. Added to these have been external shocks like the Covid-19 pandemic in 2020, the war between Russia and Ukraine that immediately   took over from Covid-19 and the upsurge in tensions between Israel and Palestine, are all situations that have kept the focus of donor partners away from countries such as ours. 
To keep the hopes alive, the Head of State remained reassuring in his New Year message to the nation by citing a number of projects that will continue to attract national attention in 2024. “Construction works on the L&eacu...