Cameroon: Lom-Pangar Funds Wholly Mobilised
11 September 2012
AllAfrica.com (Cameroon Tribune): The European Investment Bank last Friday completed the FCFA 238 billion package needed for the project.
The total amount needed to execute the multibillion Lom-Pangar Hydroelectricity Dam at the confluence of Rivers Lom and Pangar in the East Region has been fully mobilised. The last of the five donors to put its pledge on the table was the European Investment Bank that signed a 30 million Euros (about FCFA 19.68 billion) financing agreement with Cameroon last Friday September 7.
The amount came to add to what has already been disbursed by the other donor agencies notably the World Bank; FCFA 69.5 billion, French Development Agency; FCFA 40 billion, African Development Fund; FCFA 33 billion and the Development Bank of Central African States; FCFA 20 billion. The counterpart funding of the government of Cameroon to the tune of FCFA 59.6 billion has earlier been mobilised.