Public company funds Douala runway repairs

runwayA sum of XAF 30 billion (USD 49.8 million) has been designated to rehabilitating the runway at Douala International Airport, in an agreement between AFD and Aéroports du Cameroun (ADC).

This funding is the first non-sovereign loan signed by a Cameroonian public company, and is not backed by the state of Cameroon.“In a global world where competition is fierce, it is not anymore possible for us to limit ourselves to traditional sources of financing” said Minister of Finance, Alamine Ousmane Mey.

Previously, financing has been supported by the state, taking away the need for public companies to be competitive with each other. (africanaerospace)

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