61.5 billion CFA: Biya signs a document authorizing a new loan from Cameroon
61.5 billion CFA: Biya signs a document authorizing a new loan from Cameroon
Cameroon will borrow 61.5 billion in the next few days
• The loan will be granted by Deutsche Bank Italy
• It should be used to build a so-called important road
The Cameroonian Head of State signed a few days ago, a decree authorizing Cameroon’s Minister of Economy to sign a loan agreement with Deutsche Bank Italy to finance the construction of the Olounou-Oveng-Gabon border road.
The financing agreement amounts to 93.89 million Euros, or approximately 61.5 billion FCFA.
The project whose commercial contract was signed last year between the Italian company Seas and the Ministry of Public Works of Cameroon, provides for a road of 1 x 2 lanes of 3.5 m with a reference speed of 60 km /hour.
“There are plans to build 59 cross-drainage structures, build 13 bridges of various lengths for a total line of 260 ml, develop intersections, build horizontal and vertical signs and safety equipment. The duration of execution of the work is 24 months”, we learn from the Ministry of Public Works.
