Strategic Partners, Afreximbank and Cameroon sign agreement to provide Cameroon with EUR 200-million facility to support National Development Strategy implementation
The African Export-Import Bank (Afreximbank) has signed a EUR200 million financing facility to support the Government of Cameroon in the implementation of its National Development Strategy.
Dr George Elombi, serving as the Executive Vice-President for Governance, Legal, and Corporate Services, represented Afreximbank in signing the facility agreement. Louis Paul Motaze, the Minister of Finance, represented the Government of Cameroon during a formal ceremony held at the Ministry of Finance headquarters.
As per the agreement’s stipulations, the Government of Cameroon will utilise the facility to execute trade-enabling infrastructure projects outlined in the country’s financing plan, aligning with its national development strategy.
Commenting on the agreement, Dr. Elombi said: “This facility reflects Afreximbank’s continued commitment to transforming African economies through the development of African trade and will enable the Republic of Cameroon to invest in strategic infrastructure for economic and social development. The financing will also pave the way for additional partnerships to be developed between Afreximbank and the government to support the structural transformation of the economy.”
A milestone in the relationship between Afreximbank and the Government, the facility is the largest financing facility ever provided by the Bank in support of Cameroon’s economic development.