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    Islamic Development Bank grant Cameroon FCFA 35 Billion loan for Agriculture

    Cameroon has obtained a loan of FCFA 35 Billion from the Islamic Development Bank (IDB) to finance an Agricultural Infrastructure and Value Chain Development Project, the Official Gazette (OJ) reported on Tuesday.

    The loan was granted under three decrees, empowering the Minister of Economy, Planning and Regional Development (MINEPAT) to deal with the Islamic Development Bank.

    The first decree authorizes a loan agreement of CFA3.2 billion to finance the Agricultural Infrastructure and Value Chain Development Project.

    The second refers to an instalment sale agreement for CFA10.1 billion to fund the same project, while the third refers to Lives and Livelihood Fund and an instalment sale loan agreement for CFA21.3 billion to finance the project.

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