The African Export-Import Bank (Afreximbank) will finance the development and operation of a new €210-million port terminal in Douala, following the signing of the term sheet with port infrastructure developer APD-Cameroon on June 20.
The project is set to expand the existing port – which plays a key role in facilitating regional trade and integration among Central African countries – with two new berths. The Term Sheet outlines two tranches of financing totaling up to €147 million, with Afreximbank’s participation anticipated at €80 million.
“We applaud the initiative of APD-Cameroon, which through its commitment to this project, is helping to promote an innovative financing mechanism through a public-private partnership, thereby, reducing the financial burden of these strategic investments on the Government of Cameroon,” said Director of Project and Asset-Based Finance at Afreximbank, Helen Brume.
