Sino-Cameroon Relations, Over FCFA 22 Billion For Dev't Projects

The Minister Delegate in the Ministry of the Economy, Planning and Regional Development, Yaouba Abdlouye and China's Ambassador to Cameroon, Wo Ruidi, signed the accords on Tuesday June 11, 2013.

The People's Republic of China on Tuesday June 11, 2013 reached six agreements with the government of Cameroon to put at the disposal of the latter over FCFA 22 billion to accelerate socio-economic development projects in different sectors of the economy. These include two economic and technical accords, interest-free loans, one to the tune of 100 million Yuans (about FCFA 8 billion) and the other 70 million Yuans (about 5.7 billion) to boost development in yet-to-be indentified sectors. The other accord concerns a gift without counterpart funding amounting to 100 million Yuans (about FCFA 8 billion) to complete the financing of the construction of Yabassi Technical High School. The first phase of financing was signed in September 25, 2012. There was also a 4.5 million Yuan (about FCFA 361.6 million) material gift to encourage reforms engaged in view of conserving biodiversity and the sustainable management of natural resources in the country. The last two accords concerned feasibility studies in view of refurbishing the Yaounde Conference Centre.

The Minister Delegate in the Ministry of the Economy, Planning and Regional Development, Yaouba Abdoulaye, signed for Cameroon while Chinese Ambassador to Cameroon, Wo Ruidi, signed for his country. Speaking during the ceremony, Yaouba Abdoulaye praised what he termed the growing fruitful bilateral relations between Cameroon and China. While promising a judicious use of the funds put at the disposal of the country, the Minister Delegate prayed the Chinese diplomat and his country not to relent in their efforts of giving Cameroon the much-cherished push in its drive to becoming an emerging economy by 2035.