(Business in Cameroon) - Afriland First Bank Managing Director, Alphonse Nafack, and China Development Bank Board Chairman, Hu Huaibang, have just signed a financing agreement worth 40 million euros, which is approximately 26.2 billion FCFA, during Cameroonian Prime Minister Philemon Yang’s June 17-21, 2015 visit to China.

The financing, which falls in line with China’s global policy on improving financing capacities in Africa, should enable the Cameroonian banking institution to increase its financial support to SMEs – entities unanimously considered to be the main engines of economic growth. The agreement between the two banks also forecasts an exchange of experience in terms of financing for the economy and personnel training.

Afriland First Bank is a predominantly Cameroonian capitalised banking institution. The group founded by Paul Kammogne Fokam is among the top three largest banks in Cameroon with BICEC and Société générale.