By Mua Patrick, September 14, 2016
Cameroon Journal, Yaounde – The Dutch Bank of Spain has agreed to loan the government of Cameroon FCFA 21 billion for the transformation of a Yaounde municipal lake which has been an eyesore to the city dwellers for years.
The accord giving the government of Cameroon the whooping sum was signed in Yaounde Tuesday September 13.
It was Minister Louis Paul Motaze of the Ministry of the Economy, Planning and Regional Development who signed the agreement on behalf of the government Cameroon while Antonio Navarro-Escabias did same for the Dutch Bank of Spain.
The loan Motaze said at the signing ceremony will be for the first phase of transformation of the municipal lake. It will equally see the construction of a five star hotel with a capacity 80 rooms, a restaurant and commercial space amongst others. Also, part of the money will be used for the treatment of the water at the municipal lake.
“This is a very important project that will give a face lift to Yaounde. It is imperative to mention that this project will not only be a touristic attraction but will give Yaounde a new image,” said Motaze while exchanging the contract with the representative of the Dutch bank.
He said Cameroon and Dutch bank have had long standing relations that have seen the financial institution granting Cameroon other loans in the past for the development of the country.
Since 2011, the Economy minister, pointed out, the Dutch bank has financed projects in different sectors such as maritime security and livestock in Cameroon.
Antonio Navarro, the Dutch Bank of Spain representative earlier in an extemporized presentation said the project to construct facilities around the Yaounde Municipal Lake will upon completion, “provide the city of Yaounde with a clear sign of modernization.”
“This is the third project that the Dutch bank is financing in Cameroon. We believe that this project will further strengthen ties between Cameroon and our bank,” Antonio said.
The Yaounde municipal Lake situated at the heart of the capital city adjacent the Prime Minister’s office had until this development been a crime prone area. The trees situated on the bangs of the lake are usually hideouts for criminals who rob commuters.