The funding from INK Bank is dedicated to the construction of a fishing pier at the Port of Limbe and the creation of a central warehouse for the storage of export goods at the Port of Douala-Bonabéri.
The Autonomous Port of Douala (PAD) and the Chamber of Agriculture, Fisheries, Livestock and Forestry (CAPEF) are joining forces to strengthen port infrastructure in Cameroon. The joint mission of INK BANK and Chamber of Agriculture was received by Cyrus Ngo’o, Director General of the Autonomous Port of Douala on September 6, 2024.
According to PAD, this meeting was part of the development and implementation of large scale port infrastructure projects. This mainly includes the construction of a fishing pier at the Port of Limbe and the creation of a central warehouse for the storage of export goods at the Port of Douala-Bonabéri. For these projects, which were placed under the leadership of the Prime Minister, Joseph Dion Ngute, and in charge of CAPEF, INK BANK announces the opening of a line of credit of 400 million euros or more than 262.3 billion FCFA to support their performance . This bank promises ” 95% financing, with an expected 5% participation from the borrower », confirming the Port.
The discussions also focused on the development of PAD activities in terms of management, promotion and marketing, as well as the funding opportunities for other strategic projects.
The Autonomous Port of Limbé was reorganized in May 2020. It is currently under the authority of the port of Douala. Empowerment work is underway with the appointment of Thomas Ndive Mulongo as deputy director of the transitional administration.
