Cameroon officially signs FCFA 6.4 billion loan agreement with Kuwait for the construction of the Mbalmayo annex hospital
(Business in Cameroon) – On July 9, 2021, the Minister of the Economy Alamine Ousmane Mey announced that he had signed an agreement of FCFA 6.4 billion to partially finance the construction and equipment of the annex building of the hospital regional of Mbalmayo. In a statement, the official informs that this loan agreement signed with the Kuwaiti Fund for Arab Economic Development (FKDEA) aims to increase the number of health infrastructures in Cameroon.
The loan agreement was authorized by the President of the Republic who, in a decree of June 1, 2021, empowered the Minister of the Economy to sign it. In total, the project will cost FCFA 2,082 billion. As part of its framework, on August 4, 2020, Mohamadou Labarang, Cameroonian Ambassador to Egypt, signed an agreement of approximately CFAF 7 billion to partially finance the project. The remaining fund, notably 6.6 billion FCFA, will be financed by a 6.6 billion FCFA loan from the Saudi Fund for Development (FSD).
The construction of the modern hospital will boost the health offer in Cameroon as explained by the Minister of the Economy, but it will also provide the secondary city with a high standard hospital that could only be found in regional capitals a few years ago.