Cameroon: Banking pool conducted by Ecobank lends 25 billion FCFA to Camair

Finance

Cameroon: Banking pool conducted by Ecobank lends 25 billion FCFA to Camair

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- Saturday, 20 June 2015 02:47

(Business in Cameroon) - On June 16, 2015, the Cameroonian government and managing directors of Ecobank, Afriland First Bank, United Bank of Africa and Commercial Bank of Cameroon signed a loan agreement totalling 25 billion FCFA to finance Camair Co’s relaunch.

Finance Minister Alamine Ousmane Mey stated that the sum represents a part of the national airline’s financing needs which are estimated to be 30 billion FCFA.

According to reliable sources, the battle promises to be a ferce one between China’s Avic International, which recently delivered aircrafts to Camair Co and Brazilian manufacturer Embraer, which recently sent a delegation to provide assistance to Cameroonian Transportation Minister, Robert Nkili, who was pleased with the Brazilian company’s offer.

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