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Disbursements from external borrowing resources made during the month of May 2019, assessed on the basis of information extracted from the Public Debt Management System (CS-DMRS) on 20 June 2019, are estimated at approximately CFAF 250.4 billion, including CFAF 94.4 billion from external financing and CFAF 156 billion from the domestic market, bringing the total cumulative amount of disbursements recorded in 2019 to CFAF 688.5 billion.

1. Disbursements from external financing

In May 2019, the external resource drawdowns recorded in the CS-DRMS as at 20 June 2019 were estimated at CFAF 94.4 billion. These disbursements are mainly drawn from bilateral partners (47.5%). Multilateral donors contributed 23.4% of these disbursements while commercial creditors accounted for 29.1%. These disbursements recorded a 90.4% monthly increase and a 31.7% year-on-year increase. In terms of cumulation as at 31 May 2019, external disbursements recorded since the beginning of the year are estimated at CFAF 330.7 billion.

1.1. Disbursements by lessor

With regard to the distribution by lessor, disbursements came mainly from Eximbank China, which resumed on 31 May, and disbursements to Cameroon, amounting to CFAF 42 billion, or 94% of bilateral drawdowns, for Phase 2 of the National Broadband Network project. France disbursed CFAF 2.6 billion, or 6% of bilateral drawdowns. With regard to multilateral funds disbursed amounting to CFAF 22.08 billion, the World Bank contributed approximately CFAF 8.6 billion, or 39% of multilateral disbursements, the AfDB CFAF 4.9 billion, or 22%, and the IDB CFAF 4.5 billion, or 21%.

The table below shows the breakdown and monthly evolution of drawdowns by lessor.


Table: Disbursements on external loans by lessor

Source : CAA

1.2. Concessionality disbursements

During the month of May 2019, disbursements are estimated at CFAF 94.4 billion. These disbursements mainly concerned non-concessional resources (78.6%), i.e. CFAF 64.4 billion, compared to CFAF 17.6 billion in disbursements from concessional resources (21.4%).

In terms of evolution, compared to the previous months, disbursements on both concessional and non-concessional loans increased by 109.6% and 200.9% respectively. Concessional disbursements, on the other hand, experienced an annual shift of 197.9%, compared to a 2.1% decrease in drawdowns on non-concessional resources.

As a reminder, the IMF determines the concessionality of a loan from its "grant element", which is defined as the difference between the nominal value of the loan and the sum of the present value of future debt service payments to be made by the borrower (using a discount rate of 5%). According to this methodology and the Fund's concessionality requirements, the concessionality threshold (grant element) is set at 35%. The table below summarizes this evolution.


Table: Disbursements by type of concessionality


Source : CAA


2. Disbursements on domestic financing

At the domestic level, the mobilization of borrowing resources amounted to CFAF 156.0 billion, driven by issues of BTAs worth CFAF 10.0 billion and OTAs worth CFAF 121 billion raised on the BEAC securities market. In addition, the State disbursed CFAF 25 billion on the facility granted by ECOBANK Cameroon on April 4, 2019, as part of the additional financing of the PLANUT project, which replaces the BGFI loan, the availability deadline that has not been extended.

Thus, the cumulative amount of resources mobilized on the domestic market since the beginning of 2019 amounts to CFAF 357.8 billion.

The table below shows the monthly evolution of these disbursements.

Table: Disbursements on domestic loans


Source : CAA




REVIEW PERIOD             JUIN 2019          
PROJECT NAME                                                                    CM-P3 – Transport facilitation program for Bamenda – Mamfé - Ekok
SOURCE FUNDING (LENDER)                          
  • Construction works have been completed with and the contractor requested that the project be closed by MINMAP
  • the final reception was scheduled for June 27, 2019 by MINMAP.
  • Execution rate : 100%

problème sécuritaires dans la zone du projet ayant fortement impacté l’exécution et la finalisation du projet


Source: Caisse Autonome d'Amortissement. 


Le Directeur Général de la CAA a le plaisir de mettre à votre disposition l'avis de consultation ouverte (AAO) pour la demande de cotation N° 12114/DC/CAA/CIPM/2020 du 19 août 2020 relative à l'acquisition du matériel informatique à la Caisse Autonome d'Amortissement



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