1st - August - 2003
CNIC signs loan accord with BDEAC for EURO 2.262 Million
The BDEAC is the Regional Development Bank of CEMAC member countries based in Brazzaville, Congo. It is an affiliate of BEAC, the Regional Central Bank.
BDEAC's € 2.262 million loan will complement a Dutch concessionary funding package for the breakwater component of the project. The participation of BDEAC is important for three (03) reasons:
1. It confirms the regional development aspect of the Limbe Shipyard Project;
2. It increases the likelihood of financing for subsequent phases of the project;
3. It increases the possibility of BDEAC's participation in the financing of social amenities of the Limbe Shipyard Project such as employee housing.
A press release was made by CNIC on the occasion.
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