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The Cameroonian subsidiary of the French bank Société Générale (SCG) and Cameroon signed on Wednesday, March 7, two financing agreements of EUR 165.5 million, or XAF 108.6 billion. Signed by the new Minister of Economy, Alamine Ousmane Mey and representatives of the bank, this is a first financing agreement in the form of a buyer credit of EUR 140 million (about XAF 91.8 billion). The second agreement is a financial credit amounting to EUR 25.57 million (XAF 16.77 billion).

The funding will be used to support the Douala project for strengthening and stabilizing electricity transmission networks in the city of Douala, conducted by the French company Bouygues.

The French company is responsible for constructing electrical energy evacuation lines from the production centers to the major consumption centers of the country's economic capital.

Source: adapted from the article “Société Générale accorde un prêt de 165 millions d’euros au Cameroun”, Financial Afrik www.financialafrik.com