Eximbank to finance optical fiber with FCFA 198.9 billion

The Minister of Economy, Planning and Regional Planning, behalf of the head of state, signed with Eximbank (China) the preferential loan agreement with an amount of $ 337 million, approximately FCFA 198.9 billion.

This is for the financing of the second phase of the construction project of a National Broadband telecommunication network in Cameroon. The fiber optic infrastructure will benefit Cameroon through CAMTEL Telecommunications Company. Sources said it will allow Cameroonians have access to various services including, video surveillance and high definition television.

This infrastructure will enable Cameroon to build a network of 3000 km of optical fiber, so as to bring its total network to 10 000 km. It will be conducted by the Chinese company, Huawei Technologies.

Thus, the Chinese investment will help finance the said project. Investing more in China, which in recent years has financed several development projects in Cameroon, including structural projects.

Among them are the Memve'ele dam (FCFA 280 billion), the deep sea port of Kribi (FCFA 218 billion), Yaounde-Douala highway (FCFA 241 billion), etc. And for the African Cup of Nations which Cameroon will host in 2019, the Chinese bank will participate in the financing of some sports facilities.