Business

Cameroon – Cooperation: Belfius bank of Belgium and Aspac International find fertile ground in drinking water sector

Belfus Bank
Written by Deckson N.

On 10th June 2016, the Cameroonian government, through the Minister of Economy, Louis Paul Motazé, signed a FCfa 29 billion financing agreement with Belfius bank of Belgium (previously Dexia Bank), for the supply in drinking water of the industrial port complex of Kribi. The works will be undertaken by the Belgian company Aspac International.

While awaiting the signing of a new financing convention of FCfa 26 billion under negotiation, which will help in carrying out water distribution system projects in 13 Cameroonian cities; the 10th June agreement brings to FCfa 80 billion the amount already injected by Belfius bank in the drinking water sector in Cameroon since 2009, date of its first interventions in the country and the African continent in general, we officially learned.

According to the statistics of the Ministry of Economy, Belfius bank’s investments in Cameroon represented, during the 2009-2014 period, 93% of the investment budget of Camwater, the public company in the drinking water sector.

The Cameroonian authorities explain that the repeated recourse to financing from this Belgian bank to fund drinking water distribution system projects in the country, through the “flexibility of the funding mechanism” and above all “the quality of the services provided” by the group of Belgian companies Aspac International and Balteau, who carry out all the projects financed by this banking institution in Cameroon.

Via BIC

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Deckson N.

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