Cameroon will raise XAF30 bln from local banks this year

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Cameroon will raise XAF30 bln from local banks this year

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- Wednesday, 15 April 2020 10:30

(Business in Cameroon) - This year, Cameroon will borrow XAF30 billion from local banks to fund the 2020 state budget, according to internal sources at the Ministry of Finance.

The funds will add to the XAF220 billion the government was trying to raise, since April 8, 2020, via the issuance of 3 rounds of fungible treasury bonds on the BEAC market.

On April 8, during the opening round of the series, Cameroon secured XAF71 billion. The second round will take place on April 15 while the third is planned for the end of April 2020.

This series is authorized by a presidential decree, signed on March 18, 2020, empowering the Ministry of Finance to raise a total of XAF320 billion on capital markets this year for infrastructure projects.

Brice R. Mbodiam

Follow @investcameroun

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