Biya endorses loan agreement of over 8 bn F CFA

This money has to be obtained from the Deutsche Bank S.A.E. and Caixabank S.A. in a decree signed on 5th February 2015, the head of State authorizes the Minister of Economy, Planning and Regional Development to sign a loan agreement of 13,000 171.50 Euros, or approximately 8,525,112,504 Francs Cfa with the Deutsche Bank S.A.E. and the Caixabank S.A.

This money is aimed at the partial financing of the three-year emergency plan including the proposed construction of slaughter houses and cold storage.

This Decree No. 2015/058 of 5th February, 2015 repeals a previous Act of the President of the Republic: Decree No. 2014/536 10th December, 2014 enabling the MINEPAT to sign a loan agreement for the partial financing of the same three-year emergency plan.

The three-year emergency plan of Cameroon, amounting to 925 billion Cfa Francs aims to accelerate economic growth in Cameroon. It was announced by the head of State at the end of a Council of Ministers held on 9th December in the Unity Palace.