Cameroon said France had signed a deal valued at 150 billion CFA francs ($262 million) to support its budget.

The French Development Agency loan will finance projects up to 2024, Alamine Ousmane Mey, Cameroon’s minister of economy, planning and regional development, said in Yaounde. He didn’t describe the type of projects to be funded.

The loan represents France’s contribution to a three-year arrangement between the Central African nation and the International Monetary Fund. Last year, the IMF approved about $690 million of support for Cameroon to help its economy recover from the pandemic.

Source:  Bloomberg L.P.