Improving Livelihood of Defence Staff : MINDEF, BICEC Sign Accord

Within the framework of improving the livelihood of civilians and military personnel serving at the Ministry of Defense, a partnership agreement on facilitating the acquisition of loans for the realisation of projects has been signed between the ministry and the International Bank of Cameroon for Savings and Credit, best known by its French acronym, BICEC. The signature agreement took place on August 12, 2021 at the Ministry of Defence (MINDEF). The Secretary General of MINDEF, Sa?d Kamsouloum signed on behalf of the Ministry while the Deputy General Manager of BICEC, Isabelle Kondo signed for the bank. 
In his preliminary statement, the Secretary General said the accord outlines the judicial framework for obtaining loans by both civilians and military personnel for investment. The mechanisms, he noted, are geared at improving the conditions of staff by facilitating their access to cash for investment. He further noted that the agreement falls in line with the declaration of the President of the Republic on December 8, 2010 in Bamenda, North West Region, during the celebration of the 50th anniversary of the Cameroonian defence and security forces, in relation to improving the livelihoods of the aforementioned staff. 
Concept notes of the agreement indicate that the maximum period for the payment of regular loans is 84 months (seven years) and 120 months (15 years) for loans obtained for investment in the real estate sector. Beneficiaries are defence staff across the national territo...