Bank of China grants credit line of nearly 50 billion CFA francs to Cameroon

The Bank of China has granted a credit line of 44.9 billion CFA francs to Cameroon, according to an announcement published Wednesday (June 6th) in the Official Journal (OJ).
This loan is intended to finance the first phase of the National Extension Project, the intelligent urban video surveillance system.
It is stated in the said newspaper that for this purpose, the Head of State, Paul Biya, signed a decree authorizing the Minister of the Economy, Planning and Spatial Planning (MINEPAT) to initial the agreement with this Chinese bank.
Initially, the National CCTV Extension Project’s commercial loan agreement was set at CFAF 22.95 billion and closed on February 22, 2018.
However, the decision of the President of the Republic to review this envelope on the rise, comes within the framework of the amendment of the Finance Act 2018 decided Monday by the head of state which carries the budget of the country for this exercise, of CFAF 4,513 billion to CFAF 4,689 billion.