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Yaoundé - 26 November 2020 -
Economy

Cameroon: Sinking fund CAA estimates SENDs at XAF3,449 bln at end Sep 2020

Cameroon: Sinking fund CAA estimates SENDs at XAF3,449 bln at end Sep 2020
  • Comments   -   Wednesday, 11 November 2020 16:38

(Business in Cameroon) - At the end of September 2020, Cameroon’s undisbursed committed balances (SENDs) were XAF3,449.6 billion (budget support excluded), according to the national sinking fund CAA.

The CAA indicates that during the period under review, the said SENDs were solely on external loans since SENDs on domestic loans were completely disbursed in July 2020.

As of September 30, 2020, the SENDs on external loans were constituted at 54% of financial agreements with multilateral partners (including XAF638.6 billion from the AfDB group), 28.5% from bilateral partners (including XAF761.4 billion from China), and 17.5% from commercial loans (including XAF170 billion to be disbursed by Industrial and Commercial Bank of China-ICBC).

"These SEND's are programmed to be absorbed in about 5 years [in 2025]. These resources have not yet been disbursed and are not considered as debts, but rather a commitment to be disbursed at a later date," the CAA explains.

The SENDs are namely financial commitments in the form of future loans. They are already available in the credit lines opened by partners but are not yet transferred to the accounts of the concerned programs and projects.

S.A.

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