Public and private partnership : United Bank for Africa (UBA) accompanies the Douala city council in its economic projects .
The United Bank for Africa (UBA) will sign a second loan agreement of 7billion cfa to the Douala city council on Wednesday August 17,2022.
These funds are geared towards financing the acquisition of machinery and public works equipment for the construction of roads, partial renewal of the councils service vehicles and related expenses (including maintenance) just to name a few.
The loans maturity period is set at 54 months , including 6 months of partial deferral on the principal – Rate: 6.25%.
With this , the council hopes to, improve its services , its human and material resources, the quality of road maintenance works (tarred and un tarred roads), ensure the sustainability of urban roads and limit floods in the neighborhoods around the economic capital and maintain an optimal level of public lighting.
The Douala urban council also intends to provide its new structure with the equipment necessary for its proper functioning.
It’s in this regard that, the Douala city council wishes to recruit specialized suppliers with proven experience in the supply and maintenance of civil engineering equipment.
Work is set to commence immediately after the acquisition of the necessary équipements , an estimated period of January 2023.
This loan which is the second of its kind brings the councils debt to over 10.2 billion cfa . The first loan agreement was signed on March 4,2021. Since then, indemnities/compensations have been paid, the selected companies have mobilized and the preliminary works are in progress (in particular the displacement of networks…).
Africa’s leading bank, the United bank of Africa , is pleased to accompany the councils project, reaffirming its commitment to support the Government of Cameroon in areas of its competence.
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