Cameroon and China Eximbank strengthen their partnership

Cameroun and china

9 Sep 2024 | NEWS, NEWS | 0 comments

A delegation from the financial institution visited Yaoundé in October 2023.

A high-level Chinese delegation from China Eximbank (CEXIM), led by its vice-president in charge of risk management, Li Zhongyuan, visited Cameroon from 26 to 29 October 2023. The visit was marked by a working session with the Minister of the Economy, Planning and Regional Development (MINEPAT), Alamine Ousmane Mey, and a dinner in their honour on 27 October. The mission was part of a drive to relaunch financing operations with China Eximbank, and above all to share the institution’s new vision for project financing. During the working session on 27 October, Alamine Ousmane Mey praised CEXIM’s contribution to Cameroon’s development. He highlighted the major structuring projects carried out by this institution.

According to MINEPAT, the working session with the high-level delegation from China Eximbank enabled the representatives of this institution to assess the quality of our debt management, the use of the resources it generates and its impact on the economy. Alamine Ousmane Mey also noted that China Eximbank appreciates the quality of Cameroon’s sovereign risk. Yaoundé has a sizeable portfolio of projects with China Eximbank, totalling 3.2 billion dollars in various sectors these include infrastructure projects such as the deep-water port of Kribi, the Memve’ele dam, the project to supply drinking water to Yaoundé and the surrounding area from the Sanaga river (PAEPYS), and the Backbone fibre-optic project.All these projects were the subject of field visits by the Chinese mission on Saturday 28 October.Emergence by 2035 The meeting between MINEPAT and the Chinese delegation also provided an opportunity to set out prospects for cooperation that could attract new funding for the implementation of the SND30.With this in mind, Alamine Ousmane Mey and his host discussed a number of projects currently being implemented.These include the second phase of the Kribi deep-water port and, further afield, the construction of industrial parks, the continued construction of the second phase of the Yaoundé-Douala motorway, and the financing of new phases in the telecommunications sector, etc.

During the dinner hosted by MINEPAT for the Chinese delegation, Li Zhongyuan, vice-president in charge of risk management at China Eximbank, expressed his willingness to provide further support to the country as it strives to emerge by 2035. The bank is willing to continue to work within the framework of China-Cameroon financial cooperation, under the leadership of both governments,’ he said.

‘We will work together to strengthen experience sharing and technology transfer, and continue to support trade capacity building to improve people’s living conditions’.

Joceline ASSOUMOU
Source : Cameroun Emergent

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