By Kimeng Hilton Ndukong
The bank will henceforth participate in the execution, investment and management of cooperation projects it sponsors.
The Export-Import (Exim) Bank of China has announced a change in financing policy of Forum on China-Africa Cooperation, FOCAC projects in Cameroon. The disclosure was made on September 22, 2017 when 27African journalists visited the bank's headquarters in the Chinese capital, Beijing.
Zhang Shuo of the Concessionary Loan Department told Cameroon Tribune that the bank has decided on a new cooperation formula with Cameroon in order to reduce the country's debt burden. "It was recommended that Chinese companies not only execute Forum on China-Africa Cooperation, FOCAC projects financed by Exim Bank of China, but should henceforth participate in investing and running them," she explained. According to Zhang Shuo, the measure is meant to help raise the sense of responsibility of Chinese companies. "They will handle projects better because they are part owners," Zhang stated.
