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Eximbank China to fund the second phase of the water supply project

Business in Cameroon | On March 16, 2018, Paul Biya signed a decree habilitating the economy minister Alamine Ousmane Mey to borrow CFA53.4 billion for the second phase of the water supply project which should provide clean water in 9 towns.

This loan agreement will probably be signed during the state visit of Cameroon’s president on March 22. With this loan, Eximbank China’s contribution in the project will be about CFA110 billion as, during the first phase, the bank disbursed CFA56 billion.

Let’s be reminded that in Cameroon, barely 40% of the population have access to drinking water. Even in Yaoundé, the capital city, the population sometimes spend days without tap water because of the supply problems of Camerounaise des Eaux (CDE), the concessionaire whose shares were transferred to CAMWATER.

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2 comments

  1. **** WATER LOANS GIVEN BY EXIM BANK FOR PHASE ONE ****

    1. On September 11, 2013, China lent Cameroon some FCFA 85.4 billion to refurbish potable water supply in Bafoussam, Bamenda, Kribi and Sangmenlima.
    2. Cameroon secured a 366 billion CFA franc loan from the Export-Import Bank of China to fund a water distribution project.

    Facts

    1. The money for phase1 was stolen by Atangana Kouna et al. since phase1 was NEVER executed
    2. Atangana Kouna has escaped to Canada with his share of the water loan
    3. The GOC cannot talk of Phase2 when Phase 1 was never realized.
    4. EXIM Bank borrows money to LRC blindly accepting Ndian oil as collateral
    5. Future generations will find it difficult to repay these debts since the control over Ndian oil will soon change hands.

    • @NVOMEKA, that country, is actually, suffering from want of knowledge. Soon , they
      are going to vote in the same theives plus new commers. Very sickening.
      God, help Ambazonia become a reality, Amen.