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Cameroon : CAMEROON inks loan dal for development of Gas Plant.

The Cameroonian government has inked a loan deal evaluated at 198 million euros for the building and operation of a gas plant of 216 megawatt to be built in the coastal town of Kribi (south).

The collaborators engaged in the venture comprise the African Development Bank (AfDB), the Development Bank of Central African States (BDEAC), Proparco (French Development Agency), the International Finance Corporation (IFC) the Netherlands Development Finance Company (FMO) and a syndication of local banks driven by Standard Chartered Bank.

The contribution of AfDB solely mounts to 39.5 million euros and is specified for the construction of 100 km transmission line that will link the south network (RIS) that is the biggest one in the nation.

As per the AfDB, the Kribi power plant will provide greater reliability of electricity supply and enhance energy security in the country as Cameroon has been grappling with reliable energy which is a major challenge for the development of the business environment.

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Publication:Mena Report
Geographic Code:6CAME
Date:Dec 31, 2015
Words:173
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