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Standard Chartered Bank London to lend CFA62.5 billion for the renovation of the Stade de la Réunification in Douala

Standard Chartered Bank London to lend CFA62.5 billion for the renovation of the Stade de la Réunification in Douala
  • Comments   -   Thursday, 11 January 2018 11:14

(Business in Cameroon) - On December 28, 2017, Paul Biya, Cameroon’s president has signed a decree ratifying a $112.69 million (CFA62.5 billion) credit agreement concluded on December 10, 2017, with Standard Chartered Bank London.

The presidency explains that this loan will be used to finance the renovation and expansion of the Stade de la Réunification stadium in Douala, and related infrastructures.  The Canadian company Sodevi is in charge of works falling under the project. Apart from the renovation of this 40,000-seat stadium built for the 8th edition of the African Cup of Nations (AFCON), hosted by Cameroon in 1972, Sodevi will also build an additional stadium and a multisport gymnasium in Douala.

 Stade de la Réunification is one the infrastructures, in Cameroon, chosen to host AFCON 2019 in June 2019. Sodevi has also been chosen to build four training fields in Bafoussam, in the Western region.

S.A

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