(Business in Cameroon) - The Central Africa State Development Bank of (Bdeac) advises that its President, Abbas Mahamat Tolli and Zhou Qingyu, Vice-President of the Chinese Development Bank (CDB), signed on 12 December 2016 in Beijing, China, a loan agreement in the form of a credit line of 40 million Euros (approximately FCfa 26 billion), for the BDEAC and meant to finance the Small and Medium Enterprises (SME) in the private sector of the Central African Economic and Monetary Community (CEMAC).

“We must note that the strategy thus established is in line with the policy of economic diversification started by the CEMAC countries, the dramatic drop in the oil prices having revealed the vulnerability in the economies of the CEMAC countries”, explains the BDEAC. While adding that, the signing of this loan agreement will also impact on the social level since the SME eligible to this line of refinancing will be able to generate new jobs for the benefit of the citizens in the community.

On the subject of expanding cooperation between CDB and BDEAC, the two parties are ready to extend it beyond SME refinancing. This extension will be the 2^nd stage in their cooperation. It will be about financing major projects, as well as using other forms of intervention, such as: refinancing, co-financing and financing arrangements by BDEAC for CDB operations.

S.A