!DOCTYPE html>
All for Joomla All for Webmasters


China's Eximbank lends Cameroon loan of FCfa 415 billion to complete the Kribi seaport project

Louis Paul Motaze, Minister of Economy (Minepat), signed with Eximbank China, on 4April in Yaoundé, a concessional loan agreement (FCfa 89.4 billion) and a preferential buyer credit agreement (FCfa 326.42 billion) for phase II of the construction project of the deep water port of Kribi. Which brings it to a total of FCfa 415.82 billion with an interest rate of 2%. And the repayment term is 20 years, with a grace period of 7 years.

The different components of this second phase are the extension of the dyke by 675 metres (m), the reconfiguration of the access channel, the construction of a container terminal with a 700m-long dock to double the current capacities and provide twice more handling equipment than in phase I, to increase productivity. “Phase II thus appeared as crucial and above all, its completion before 2020 became a key point for the additional demand in traffic to meet a substantial offer in operational structures”, declared Louis Paul Motaze.

Still according to Minister of Economy, the contribution of the Chinese partner, representing 85% of the global cost of the project, will be added to the remainder evaluated at FCfa 68.5 billion, corresponding to 15% of the total cost of said project and paid for by the container terminal concessionaire (the Bolloré-CHEC-CMA CGM consortium) in the framework of the partnership contract.

Concord Newsdesk

A plea from Cameroon Concord........

Thank you for reading our magazine, we have a plea to ask you our readers. Over the last two years, hits on our articles have been climbing, we have had an increase in clicks and also a broader reading audience on our social media channels.Our readers have been writing to us requestion for news updates from Cameroon/Southern Cameroons. We have as well been trying to give you the best we can, however, we are short of finances to recruit reporters to carry on independent and investigative journalism which takes a lot of time, money and hard work to produce. We are therefore pleading on you to support our efforts for this platform to be able to keep up the good work we are doing.

For as little as €1, you can support Cameroon Concord– and it only takes a minute. Thank you.


Website: www.cameroon-concord.com Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Share your views on this article

Headlines On Cameroonian English Tabloids

Modern Villa For Sale in Yaounde Cameroon

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



Get the latest news and information delivered directly to your inbox by subscribing to our news alerts.



Right Click

No right click

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…