(Business in Cameroon) - Cameroonian finance minister, Louis Paul Motaze, chaired April 19 in Malabo (E Guinea) the Board Meeting of the Development Bank of Central African States (Bdeac) which fetched his country XAF6.6 billion for development projects.
Part of the monies, XAF4.17 billion, will be used to build a 4-star hotel in Douala, Cameroon’s economic capital, while the remaining XAF2.5 billion will fund the expansion of Du Vaal school.
The bank also approved XAF80 billion for the construction of a new passenger terminal at the international airport of Bata, in Equatorial Guinea. Another XAF2.5 billion will finance the creation of an agro-pastoral facility while XAF1.100 billion will serve for the construction of a cement unit in the same city.
In Gabon, Bdeac gives XAF45 billion for the construction of 1,000 housing in Okolassi; a project initiated by the national social security fund. The Congolese state received XAF12 billion to strengthen the University Hospital Centre of Brazzaville and another XAF6 billion to partly fund the implementation of a pharmaceutical products’ manufacturing and packaging unit in Ollombo.