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Yaoundé - 28 September 2021 -
Finance

Douala town hall gets closer to World Bank’s XAF43 bln funding with a XAF3.2 bln loan from UBA Cameroon

Douala town hall gets closer to World Bank’s XAF43 bln funding with a XAF3.2 bln loan  from UBA Cameroon
  • Comments   -   Thursday, 10 June 2021 12:08

(Business in Cameroon) - UBA Cameroon recently granted a XAF3.2 billion loan to the Douala town hall, credible sources reveal. According to the sources, thanks to that loan, the territorial community can access XAF43 billion funding from the World Bank in the framework of phase II of the city resilience program.

Indeed, to access the World Bank’s funding, the town hall was required to provide a counterpart funding, which is a done deal now, with the financial support raised from UBA Cameroon. “This partnership with decentralized territorial units is an important tool that we plan to enhance,” UBA Cameroon’s new CEO  Jude Anele told Cameroon Tribune.

Thanks to the financial support, Douala town hall can now plan the launch of the World Bank’s city resilience program that will help acquire new infrastructure. The program consists of the construction of infrastructures like urban roads, the extension of water supply networks, the construction of drains, the organization of waste collection and sludge disposal.

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