After shutting down internet services in Southern Cameroons, Biya gives green light for low cost housing in La Republique 1

The Minister of Economy, Planning and Regional Development, Louis Paul Motaze of La Republique du Cameroun has been accorded the green light by President Biya to sign loan agreements with some foreign banks for the construction of low cost houses, Cameroun Tribune reports. The Minister therefore has to sign a funding loan agreement amounting to about FCFA 14.104 billion with Banque Intesa Sanpaolo SPA. The money will serve to finance studies for the construction project of 10,000 low cost houses in Yaounde and its environs, construction of pioneer 1,000 houses as well as the construction of an industrial base. In another decree signed the same Friday, February 17, 2017, the 84 year old dictator empowered the Economy Planning and Regional Development Minister to sign a financing loan agreement with Banque  Intesa Sanpaolo SPA  amounting to about FCFA 101.024 billion.

The Minister of Housing and Urban Development, Jean Claude Mbwentchou in a typical CPDM style said the decrees of the Head of State marked a decisive turning point in the housing sector. He said improvement in quality and quantity is envisaged in the housing sector considering that the decrees also spell out the construction of an industrial base where materials for the construction of the houses and other related equipment will be manufactured. The low cost houses, Minister Mbwentchou specified will be constructed by an Italian company, PIZZAROTTI.

As for the land where the houses and industrial base will be constructed, he said, the Minister of State Property, Survey and Land Tenure has already allocated some areas land and others are awaited. He said the two decrees of the Head of State concerns phase I of the project that comprises of all studies, construction of the industrial base and the pioneer 1,000 houses. Mr Mbwentchou disclosed that will Mbankomo at the outskirt of Yaounde will benefit.

Cameroon Tribune