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Cameroon : CAMEROON signs EUR 198 million loan agreement for construction of new power plant.

The government of Cameroon has signed around EUR 198 million loan agreement to construct and operate a gas plant of 216 megawatt in the coastal town of Kribi (south).

The project involves partners such as 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) along with a syndication of local banks led by Standard Chartered Bank.

The AfDB contributed around EUR 39.5 million. The amount will support the construction of 100 km transmission line to connect the south network (RIS) which is the largest one in the country.

The AfDB, said, 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:162
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