The Cameroonian Ministry of Economy, Planning and Regional Development announced in a press release published on Monday, April 29, that Cameroon has obtained funding in the amount of 800 million dollars (more than 489 billion CFA francs) from the Islamic Society International Trade Finance (ITFC)

The financing granted by the International Islamic Trade Finance Corporation (ITFC), a specialized body of the Islamic Development Bank (BID) group in Cameroon, aims to implement joint initiatives defined by both parties in sectors such as agri-food, energy, SME and health financing. The aim is to stimulate economic growth and sustainable development. The funding should be disbursed in the form of loans over a period of three years (2024-2027). According to the Ministry of the Economy in fact, 80% of the global financing, or 602.4 million dollars, was mobilized in favor of Cameroon. This made it possible to finance cotton campaigns by the Cotton Development Company (Sodecoton), imports of petroleum products from the National Refining Company (Sonara), the only refinery in the country, as well as imports of raw materials for Aluminum from Cameroon (Alucam