Germany’s Commerzbank has opened a line of credit of $ 58 million, around CFAF 34 billion, to enable Cameroon to strengthen the security system in Central Africa. A decree from the Cameroonian Head of State Paul Biya authorizes the Ministry of the Economy, Planning and Regional Development to sign a loan agreement with Commerzbank AG to this effect, for the financing and renewal of the partnership with the “OMP Solutions” group.
This funding is a response to security concerns in Central Africa, in particular the support of the Cameroonian contingent of the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA).
Commerzbank, which finances more than 30% of Germany’s foreign trade, is the second largest listed German banking group by capitalization behind Deutsche Bank.
These intervention zones are generally oriented towards structuring development projects such as energy, infrastructure and transport.
The financial assistance arrives a few days after the deployment on September 4 of the sixth Cameroonian contingent made up of 1,100 soldiers in the Central African Republic to help restore peace in this neighboring country, which has been facing a socio-political crisis since 2013.
