The European Investment Bank has begun assessing its engegaments in Cameroon with a zeal to further expand. This is the contours of a four-day visit by officials of the financial institution to Cameroon.
The delegation is led by the Bank’s Vice President Thomas Ostros. The investment plan is the central preoccupation of an elaborate programme made available to journalists in Yaounde by Nikolaos Milianitis, Head of the Regional Representation for Central Africa of the EIB.
During a working visit from 5 to 7 May, Thomas Östros will sign agreements and meet actors from various sectors.
Cameroon will receive an important delegation from the European Investment Bank on 5 May.
It will be led by Thomas Östros, Vice-President of this financial institution. On the agenda of this three-day mission, bilateral meetings with members of government, meetings with the private sector, the banking sector and also visits to some projects including the hydroelectric dam Nachtigal-amont where the Bank participates to the tune of 49.2 billion F.
Two other highlights will mark this visit. These are the signing of financing agreements for development projects. The main event will be the signing of a blending finance agreement for the Belabo-Ngaoundere railway line renewal project for more than F80 billion. But also that of two lines of credit with the Commercial Bank Cameroon and the Community Credit of Africa under the rapid response facility against Covid-19 for the ultimate benefit of local SMEs. These funds will enable the banks to grant longer-term loans to Smes, which are essential for their growth at this time.
“EIB is the only public bank operating both across Europe and around the world. We learn from every project we are involved in and our technical, environmental and economic experts share best practice gained from supporting transformational” explains the Vice President
Adding that their institution is also the world’s largest financier for both world- wide water investment and renewable energy; and has a unique understanding of supporting high-impact sustainable transport and business investment that enhances their engag