Chinese Government provides RMB 215 million grant for purchase of MA60 aircraft as part of larger 'buy two get one free' deal

On November 11, 2013, the Chinese Government provided an RMB 215 million grant --- through China Development Bank -- to Cameroon's Ministry of Economy, Planning, and Regional Development (MINEPAT) for the purchase of an MA60 Chinese aircraft. This project was part of a "buy two get one free" deal in which the Chinese Government provided a RMB 215 million grant to the Government of Cameroon for the acquisition of one aircraft, and in return the Government of Cameroon agreed to borrow RMB 430 million from China Eximbank for the acquisition of two additional aircraft (see Project ID#35169). The grant-financed aircraft was delivered on November 8, 2012. The contractor was AVIC. These three aircraft were added to a fleet of aircraft maintained by the state-owned Cameroon Airlines Corporation. The aircraft’s reception ceremony took place on 8 November 2012, when it was handed over to Cameroon’s Air Force. In April 2015, Cameroon purchased two new MA 60 aircraft to strengthen Camair-Co’s fleet, the civilian state-owned airline of Cameroon.

Additional details

An unknown part of the Chinese Government is the funder but the grant proceeds were disbursed through a CDB account that was established with a host country bank.

Number of official sources

4

Number of total sources

9