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Cameroon and Eximbank-Turk finalise FCfa 140 billion in financing to build a 50,000-seat stadium in Douala

Cameroon and Eximbank-Turk finalise FCfa 140 billion in financing to build a 50,000-seat stadium in Douala
  • Comments   -   Friday, 04 November 2016 07:24

(Business in Cameroon) - The funding necessary for the construction of a 50,000-seat stadium in Japoma, in the suburbs of Douala, have now been raised. Indeed, on 2 November, the Vice-President of Eximbank-Turk, Alaaddin Metin, and the Cameroonian Minister of Economy, Louis Paul Motazé, signed a financing agreement of approximately FCfa 116 billion relating to this project.

A FCfa 140 billion investment in total, the Japoma stadium, which is built in anticipation of the 2019 AfCON Cameroon will be hosting, will be financed with FCfa 24 billion from the Cameroonian State. This will be financed through a loan of the same amount, recently granted to the government by the local subsidiary of the Gabonese BGFI.

As a reminder, the Japoma stadium will be built by the Turkish company Yenigün Construction Industry. Officially, this infrastructure will have two training pitches with seats, a covered gymnasium with a 2,000-seat capacity, an Olympic swimming pool with 8 lanes and a 1000-seat capacity, etc.

BRM

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