27 November 2012

Cameroon: China Exim bank Officials Evaluate Projects

The bank officialson Tuesday paid a courtesy visit to Prime Minister Philemon Yang.

The Vice President of the Export-Import (EXIM) Bank of China, Zhu Hongjie, yesterday, November 27, 2012 headed an eight-member delegation to the Star Building for a courtesy visit to Prime Minister, Head of Government, Philemon Yang. After brief discussions at the audience room with one of the highlights being the exchange of gifts, the Prime Minister and his guests moved to the Cabinet Meeting hall for an enlarged consultation extended to other members of the Cameroon government.

The leader of the Chinese bank officials made no press declaration. However, information that filtered out of the discussions indicated that they are in Cameroon to evaluate projects the Exim Bank of China is financing in Cameroon and also to chart the way forward. The bank officials are programmed to hold working sessions with other cabinet ministers and senior government officials.

The Exim Bank of China is financing over a dozen projects in Cameroon. The bank is for instance, disbursing FCFA 207,270 billion for the construction of the Kribi Deep Seaport project and FCFA 33 billion for the construction of 1,500 low-cost housing units. The bank also signed an agreement with government to finance the construction of the Yaounde-Douala double carriage highway amounting to FCFA 258 billion. It is also the highest financier of the multi-billion Memve'ele hydro-electricity dam in the South Region of Cameroon.

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