Cameroon government signed 139 billion FRS as loan from An Italian bank for the construction of an ultra-modern sports complex in Yaoundé.

An Italian bank, Intesa Sanpaolo is putting at the disposal of the government
 of Cameroon the sum of 139 billion FRS as loan for the construction 
of an ultra-modern sports complex of international standard at Olembe, 
outskirts of Yaoundé. The contract was signed Tuesday, August 
16. Representing the Italian side was the Chargés d’Affairs at the Italian 
 Embassy in Yaoundé, and the Minister of Economic Planning and 
Regional Development, Louis Paul Motaze signed on behalf of Cameroon.
 During the signing ceremony, Motaze thanked the Italian government and bank for
coming to the aid of Cameroon at this crucial moment when it is preparing to host
some major sporting events. The Minister showered praises on the Italian firm,
Group Piccini that has won the contract for accepting to even start the
 preliminary part of the construction works before the loan 
contract is signed. To Motaze, it is a sign of confidence on Cameroon.
                               Construction work on the 60,000 capacity stadium is expected to begin
                           next month and will cost a global sum of 163 billion FRS. Part of the
                            funding (24 billion FRS) will come from the government of Cameroon.

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