Alamine Ousmane Mey clarifies use of 150b FCFA sought by Cameroon

The Minister of finance, accompanied by the Director General of the SCB-Cameroun was facing the press yesterday, Tuesday, December 16, 2014 at the Hilton Hotel in Yaounde.

Since November 24, 2014 the State of Cameroon has intended to raise the sum of 150 billion CFA FRANCS in financial markets through bonds.

After the experience of 2010, the funds sought in the context of the current bond will be destined to finance the construction or rehabilitation of road infrastructure.

The amounts of 40.8 billion and 27 billion CFA FRANCS will be respectively allocated to energy and port projects. With respect to the restructuring of five public companies, Alamine Ousmane Mey alleged in his opening remarks highly illustrative that 21 billion CFA francs will be allocated to them.

The information noted by the Government published thereon, specified that Camair Co will get away with a budget of 3 billion Cfa francs, while the cotton industrial of Cameroun (Cicam) would receive 2.04 billion Cfa francs.

Following in the same footsteps, civil engineering equipment (Matgenie) national park would have slightly more than 2.5 billion, almost the same amount as EDC (2.5 billion), while 11 billion CFA francs will be allocated to the Camwater.