The note briefly outlines the impacts,and lessons of the Transport Sector Reform Project inCameroon, whose objectives aimed at developing privateparticipation, and continue the restructuring of transportsector utilities. While some activities, such as railwayoperations are being partly privatized, through concessionarrangements, and bus companies liquidated, allowingliberalization of urban transport, efforts at reforming theport sector, will continue under the Third StructuralAdjustment Credit. However, the privatization of the civilaviation company did not take place, and, efforts to improvethe international transit system were only partiallyachieved. Lessons point at the need to address thebudgetary, and social impact of privatization, includingseverance payments, early on during project preparation; thecrucial aspect for higher level management - Government anddonors - to be committed to, and involved in the process ofreform implementation; the essential need for Bankcontinuity in supporting the country strategy, throughsuccessive projects that will prod reforms, and consolidatethose achieved through the project, emphasizing financialmanagement issues.