The BDEAC will unlock 60 billion CFA francs in Cameroon and Equatorial Guinea

The Development Bank of Central African States (Bdeac) will provide financial support of 60 billion CFA francs to Cameroon and Equatorial Guinea, according to a statement it issued after a board of directors held at the end of June in Brazzaville.

The envelope will be used to finance projects of a socio-economic nature, at 57 billion CFA francs in Cameroon, and just over 3 billion in Equatorial Guinea.

“This funding will be disbursed as soon as these countries have met the conditions required by BDEAC for this type of project financing,” said Fortunato Ofa Mbo Nchama, president of Bdeac.
The boss of the bank added that the loan has already been approved, but “there remains the process of lifting the preconditions. Once the operators have succeeded in lifting these conditions, we will talk about disbursements “.
As a reminder, the BDEAC covers the six member countries of CEMAC: Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.

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