Deutsche Bank Spain Loans Cameroon $7 Million for Yaoundé Lake Project

Cameroon has secured a $7 million loan from Deutsche Bank Spain to restart the redevelopment of Yaoundé's Municipal Lake, a project that has been stalled for months due to a funding gap estimated at CFA4.06 billion. The loan is part of a decree signed by President Paul Biya on July 22, 2026, which authorizes the Minister of Economy to conclude buyer's credit agreements required to finance the remaining works on the project. While some have questioned the need for an external loan, citing concerns that it could be financed through the state budget, the move is seen as a step towards reviving the stalled project.

Cameroon has taken another significant step towards restarting the redevelopment of Yaoundé's Municipal Lake after President Paul Biya authorized the government to borrow about CFA4.1 billion ($7 million) from Deutsche Bank Spain to finance additional work on the project's first phase. This move is crucial as it addresses a funding gap estimated at CFA4.06 billion, which had prevented work from continuing on an intermediate stage of the project. The redevelopment of Yaoundé's Municipal Lake and the Mingoa Valley is a significant tourism and economic development project for Cameroon, and its revival has been eagerly anticipated by stakeholders.

The redevelopment of Yaoundé's Municipal Lake and the Mingoa Valley was initially launched to boost tourism and economic activities in the region. However, the project faced a funding gap estimated at CFA4.06 billion, which prevented work from continuing on an intermediate stage of the project. The National Public Debt Committee had questioned the need for another external loan, arguing that the relatively modest amount could be financed through the state budget. Nevertheless, with the expected public funds never released, construction work came to a standstill.

The authorization by President Paul Biya to borrow $7 million from Deutsche Bank Spain is seen as a significant step towards reviving the stalled project. While some have raised concerns about the need for an external loan, the move addresses a critical funding gap that had hindered progress on the project. The decree signed by President Biya on July 22, 2026, authorizes the Minister of Economy to conclude buyer's credit agreements required to finance the remaining works on the project. This development has significant implications for Cameroon's economic and tourism sectors, which stand to benefit from the redevelopment of Yaoundé's Municipal Lake.

The $7 million loan secured by Cameroon from Deutsche Bank Spain is a crucial step towards reviving the stalled redevelopment of Yaoundé's Municipal Lake. As the project moves forward, stakeholders will be watching closely to see how the funds are utilized and whether the project meets its intended objectives. The success of this project has significant implications for Cameroon's economic and tourism sectors, making it essential for all parties involved to work together towards a successful outcome.