From Cameroon Tribune
The agreements have come with thunderous applause from officials of the Ministry of the Economy, Planning and Regional Development (MINEPAT) piloting the project. Going by explanations, MINEPAT will sign a loan agreement with the London Branch of Deutsche Bank amounting to 27, 544, 454 euros (approximately FCFA 18 billion) to valorize and render the lake economically viable and a touristic-attractive. But since the project like other giant projects warrants counterpart funds, government has contracted a loan from the Spanish Branch of Deutsche Bank for complementary funding worth 5,272 002, 17 euros (about FCFA 3.5 billion). The first phase of the project will see the lake and its waters cleaned up. Phase two will see the construction of state-of-the-art structures like hotels, restaurants, landing space for water sports and recreational activities as well as library and commercial centres around the shores.
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