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Cameroon signs FCFA 30 billion loan deal with Spain

The loan deal was reached in three separate accords in Yaoundé on Wednesday.
The money is meant for the improvement of electricity network in Yaoundé from 2018 to 2019.
Government says the project could also extend from Yaoundé to Edea.

The Biya regime has stepped up borrowing in recent months.
Last month the IMF approved a loan deal of about FCFA 390.4 billion to help Cameroon as it battles with Boko Haram and the falling oil prices.
Some months back Cameroon also borrowed a huge some from the Islamic Development Bank.
Besides mismanagement, the fight against insecurity and the desperate attempts to stifle the just cry of West Cameroonians have bled the country dry.

Concord Newsdesk

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Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .



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