Cameroon to raise XAF45 bln on the public securities market to fight the coronavirus pandemic

Finance

Cameroon to raise XAF45 bln on the public securities market to fight the coronavirus pandemic

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- Friday, 27 March 2020 14:55

(Business in Cameroon) - On April 8, 2020, Cameroon will launch the first bond of a series of three on the BEAC money market. According to internal sources at the Ministry of Finance, the three issuances are aimed at raising XAF220 billion for various projects.

Sources close to the case indicate that XAF45 billion of the funds raised will be used to boost the health system because of the coronavirus pandemic.

Meanwhile, XAF63.2 billion will be devoted to development projects and road construction, XAF38.3 billion for projects in the water and energy sectors and XAF73.5 billion for sporting facilities.

BRM

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