logoBC
Yaoundé - 26 February 2020 -
Finance

Cameroon : Kuwait Fund’s active portfolio estimated at about XAF20 billion

Cameroon : Kuwait Fund’s active portfolio estimated at about XAF20 billion
  • Comments   -   Friday, 17 January 2020 15:06

(Business in Cameroon) - Currently (January 2020), the active portfolio of the Kuwait Fund in Cameroon includes three projects for an amount of US$35.5 million, or about XAF20 billion, data from the Ministry of Economy reveal.

In detail, this fund is financing the Sangmelima-Djoum road construction project (Bikoula-Djoum section) in the southern region, to the tune of US$10 million (XAF5 billion) ; the construction of the Ekounou Technical Vocational High School in Yaoundé, to the tune of US$ 10.5 million (XAF5.25 billion) ; and the construction of the Olama-Bingambo road (Bingambo-Grandzambi section), also in the south of the country, to the tune of $17 million (XAF8.5 billion).

 “The Kuwait Fund does not provide budgetary or balance of payments assistance. In case, in a loan operation, the borrower is not the government of the country concerned, the fund generally requires the conclusion of a guarantee agreement with the said government, in order to match the borrower's obligations,” the Cameroonian ministry explained.

However, the ministry indicates, assistance operations granted by the Kuwait Fund may take the following forms ; direct or guaranteed loans, joint or parallel financing,with other international, regional or national assistance agencies; grants for the financing of related technical, economic and financial studies, including pre-investment studies, project identification, feasibility studies, project preparation, etc.; and grants for the financing of projects.

SA

social-housing-50-of-tenants-at-sic-s-mbanga-bakoko-houses-have-no-lease-agreement
Last weekend, Ahmadou Sardaouna, Director-General of Société immobilière du Cameroun (Sic), visited the social housing site of Mbanga Bakoko, a suburb in...
end-frauds-and-manipulations-that-usually-occur-at-cenadi-louis-paul-motaze-asks-new-officials
Last February 21, in Yaoundé, officials newly appointed at the Centre national de développement de l’informatique (Cenadi), which processes public...
daniel-ona-ondo-cemac-countries-have-a-yearly-structural-food-deficit-of-about-xaf2-000-billion
CEMAC countries have a yearly structural food deficit of about XAF2,000 billion. This was revealed by Daniel Ona Ondo, President of the CEMAC Commission...
cameroon-to-elaborate-strategy-to-involve-women-in-fight-against-maritime-crimes
In the coming weeks, the Ministry of Transport will develop a strategy to involve women in the fight against maritime crimes. This is the result of...

Mags frontpage


Business in Cameroon n84: February 2020

Money transfer business Cameroon is on the front line


Interview: «Shifting from bureaucratic management to efficient public management»


Investir au Cameroun n94: Février 2020

Sociétés de transfert d’argent Le Cameroun au cœur de la bataille


Entretien : « Passer d’une administration bureaucratique à une gestion publique performante »