Raymond Ynaraja Takes Helm at European Investment Bank Cameroon with Projects Portfolio Worth €890m
(Business in Cameroon) – Raymond Ynaraja has officially assumed his role as Regional Representative of the European Investment Bank (EIB) in Cameroon, taking charge of a project portfolio valued at €890 million that spans infrastructure, agriculture, and support for small and medium‑sized enterprises. His introduction to the Cameroonian authorities focused on the financing of Government-led projects supported through European Union mechanisms.
On 19 November, Ynaraja presented his letters of introduction to Minister Delegate Felix Mbayu at the Ministry of External Relations in Yaounde. The presentation, held in the Ambassadors’ Hall, centred on the state of cooperation between Cameroon and the Bank, particularly the financing of priority infrastructure and development projects. BEI financing in the country spans energy, transport, water, agriculture, and support for small and medium-sized enterprises. Over six decades, the Bank has committed €890 million, equivalent to about 583 billion FCFA.
On the same day, the Minister of the Economy, Alamine Ousmane Mey, held a separate audience with Ynaraja and the Ambassador of the European Union, Jean-Marc Châtaigner. Discussions covered BEI support for flagship projects, including the T3 section of the Yaounde bypass road, structural reforms under the National Development Strategy (NDS30), ongoing sovereign and sub-sovereign financing, and prospects for future grants and loan facilities. The meeting also reviewed measures related to access to financing instruments and alignment with national priority programmes.
Information shared at the Ministry of the Economy indicated that the exchanges reaffirmed the cooperation between Cameroon, the BEI, and the European Union, highlighted BEI support for major Government projects, and outlined the reforms and financing avenues currently under consideration.
Ynaraja joins the Cameroon portfolio with a background in project financing, financial inclusion, and bilateral and multilateral cooperation. His previous assignments include work in microfinance at the BEI’s Enlargement and Neighbourhood Department, project financing roles in several regions, and service at the Spanish Ministry of Economy and the European Commission. He previously served as BEI Representative in Senegal from 2020 to 2023.
The BEI’s partnership with Cameroon dates back to 1965, focusing on long-term financing for infrastructure, agriculture, and enterprise development. Strengthening institutional exchanges with Cameroonian ministries aligns with ongoing investment operations and the preparation of new pipelines across priority sectors.
Mercy Fosoh