Contingency Plan: Government and financial institutions agree on a forward march

The Government of Cameroon has signed agreements with local and foreign banks to fund the three-year Contingency Plan announced by Head of State, President Paul Biya during the recent Council of Ministers’ meeting.

Prime Minister, Head of Government Philemon Yang who chairs the committee in charge of the implementation of the plan oversaw the signing of the partnership agreements worth 925 billion FCFA with the said banks.

The ceremony was organised on 19th December 2014 at the Prime Minister’s Office.

The five Government Officials who signed agreements with six financial institutions are:

Prime Minister’s Office

The Secretary General at the Prime Minister’s Office, Louis Paul Motaze signed a Memorandum of Understanding with Banque Atlantique Cameroun and Alliances Group, a Moroccan Company.

Ministry of the Economy, Planning and Regional Development

Minister Emmanuel Nganou Djoumessi signed the Funding Agreement on behalf of his Ministry with Deutche Bank Madrid/CAIXABANK, Banque Atlantique Cameroun, BGFI Bank and Ecobank.

Ministry of Finance

Finance Minister, Alamine Ousmane Mey signed the Mandate Letter with the Standard Chattered Bank represented by its General Manager, Matthieu B. Mandeng.

Ministries of Public Health; Housing and Urban Development

Both ministries signed an agreement with the Alliances Group for the construction and equipping of eight regional hospitals, the rehabilitation of some hospitals and the construction of eight collections of low-cost houses to cushion the socio-economic needs of the population in specific areas.

Representatives of most of the institutions were positive that they are engaged in a win-win business with the government of Cameroon.