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African Development Bank approves two loan agreements worth 110.3 billion FCFA to build 248 km of roadway in Cameroon

African Development Bank approves two loan agreements worth 110.3 billion FCFA to build 248 km of roadway in Cameroon
  • Comments   -   Friday, 06 February 2015 03:18

(Business in Cameroon) - On February 2, 2015, the President of Cameroon authorised the Economy Minister to sign two loan agreements with the African Development Bank totalling 110.3 billion FCFA to build 248 km of roadway between Batchenga and Lena in the Centre region.

Worth a total of 101 billion FCFA, the first loan agreement will be signed with the non-concessional division of the ADB while the second loan, worth 9.3 billion FCFA, will be signed with the African Development Fund, the concessional division (at an interest rate of less than 1%).

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