£113 Million UK Trade Boost Supports Major Roadworks In Cameroon

UK Export Finance will provide £113 million of financial support to the Cameroonian Government, boosting bilateral trade and supporting jobs. The deal will unlock millions of pounds worth of business for UK suppliers to install and upgrade new roads that will link the capital with vital trade ports. UK trade with Cameroon increased by 40% in the last year as the UK marks the first anniversary of its trade agreement with Cameroon. The new deal, a mix of Buyer Credit and Direct Lending support underwritten by UKEF, will support the expansion of the Douala East Entrance Road, which connects the capital in Cameroon with vital trading ports. The main contractor will be Magil Construction which has strong credentials in Cameroon, working on some of the largest projects in the country. They have recently completed the construction of the Douala Soccer Stadium used at the recent African Cup of Nations. When completed the expanded road will dramatically improve the transport of goods in Cameroon and strengthen economic ties with landlocked neighbours Chad and the Central African Republic.

Mike Freer MP, Minister for Exports, said: "Africa is one of the most exciting continents on which to do business. That's why this government worked so quickly to ensure trade agreements were rolled over and exports could continue unabated. This new deal backed by UK Export Finance is a huge boost to the UK's growing trade with Cameroon. It will help keep the wheels of trade turning and provide opportunities for British companies to showcase their world-class expertise."

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