Cameroon borrows FCFA 12.6 bn to develop Ydé lake

By SIMON NDIVE KALLA On November 4, 2019, President Paul Biya issued two decrees instructing the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey, to sign two credit agreements for a total amount of FCFA12.6 billion with Deutsche Bank Spain. In detail, the first agreement is a buyer credit. It involves an amount of FCFAF 9.03 billion to fund the tourist and economic development project of the Yaoundé municipal lake. The second agreement is a commercial credit amounting to FCFAF 3.6 billion, also intended for Phase 1 of the same project. Launched in 2016, the project consists,…