In Cameroon, the ministry of economy, just signed multiple technical and economic agreements with China regarding phase two of a drinking water supply project which covers nine Cameroonian towns. The overall value of the contracts is estimated at FCFA49.4 billion (594 million yuan).
The financing which will be provided by EximBank China, in charge of China’s external investments, will cover the towns of Dschang (Western region), Yabassi (Coastal), Maroua (Extreme North), Garoua (North) and Garoua-Boulai (East). The first phase of the project, launched in September 2014 and completed in August 2017, covered the towns of Bafoussam (West), Bamenda (North West), Kribi and Sangmelima (South).
Let’s recall that Wei Wenhua, China’s ambassador to Cameroon, said the CEMAC’s economic driver is “the second African largest beneficiary of China’s financing”. This however does not correspond to data present in the “China Africa Research Initiative (CARI)”, a report detailing China’s investments in Africa, released in June 2016, by the John Hopkins University, USA.
Truly, according to the report, out of $86.9 billion (FCFA47,795 billion) of loans from China to African States, banks and companies, over the 2000-2014 period, Cameroon captured a total of $2.8 billion (around FCFA1,540 billion). This puts the Central African nation at the ninth position in terms of African countries to have benefited the most of China’s fundings.
Ahead of Cameroon in this regard are Angola with $21.20 billion, Ethiopia ($12.3 billion), Sudan ($5.58 billion), Kenya ($5.19 billion), the Democratic Republic of Congo ($4.91 billion), Congo ($3.7 billion), Nigeria ($3.5 billion) and Ghana ($3.1 billion).
With businessincameroon
