The International Bank for Reconstruction and Development (IBRD), the non-concessional subsidiary of the World Bank (WB) group will issue FCfa 113 billion in favour of the Government of Cameroon.
This has been announced through a Presidential order signed on 17th April 2017 by President Biya, which allows the Minister of Economy, Louis Paul Motaz, to contract this loan on behalf of the Cameroonian Government.
The Administrative Council of the WB sanctioned the loan in October 2016.
The amount that will be offered by the IBRD will be used to fund the transport industry, in which the government and its partners have led several projects since 2012.
It will also be used to restore and to build national and transnational transportation routes, rehabilitation of the railways and upgrading equipment, or also to upgrade the port infrastructure of the country.
This has been announced through a Presidential order signed on 17th April 2017 by President Biya, which allows the Minister of Economy, Louis Paul Motaz, to contract this loan on behalf of the Cameroonian Government.
The Administrative Council of the WB sanctioned the loan in October 2016.
The amount that will be offered by the IBRD will be used to fund the transport industry, in which the government and its partners have led several projects since 2012.
It will also be used to restore and to build national and transnational transportation routes, rehabilitation of the railways and upgrading equipment, or also to upgrade the port infrastructure of the country.