FCFA 21 Billion To Clean Up Yaounde Municipal Lake

   

What should have been a thing of beauty and a tourist attraction, is more of an eye sore to Yaounde city dwellers, and visitors. Well, not for much longer, this because, the slimy green and smelly waters of the Yaounde Municipal Lake will soon be cleaned up.  The Head of State yesterday February 2, 2015, authorised the the Minister of the Economy, Planning and Regional Development to sign two separate loan agreements with the Deutsche Bank for the cleaning and development of the lake.

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.