EIB banana loan to Cameroon
20 May 2004
On December 13th the European Investment
Bank announced a €
8 million risk capital loan for the financing of three banana plantations
belonging to the French group Compagnie Fruitière in Cameroon.
The loan will finance measures aimed at increasing productivity
through improved varieties, enhanced plantations infrastructure
and environmentally friendly production methods. In addition provision
is made for educational and health facilities on the plantations.
The loan is deployed in parallel with the European Commission's
structural aid to the Cameroon banana sector. The remuneration of
the loan is linked to the project's performance.