The government had announced that funds raised from the CFAfr200bn bond issuance would be used to co-finance the much-anticipated infrastructure projects, and on December 28th (one day before the issuance was officially validated by the financial markets commission) local media reported that bulldozers had started clearing land at the site of the Kribi deep-sea port. The project had been delayed by six months owing to negotiations over compensation to locals-which is expected to cost a total of CFAfr24bn-and uncertainties over the financing of the project. The majority of the port project, estimated to cost CFAfr215bn, will be financed by the Chinese government; the government of Cameroon's financing contribution will be roughly 10%.