Cameroon: EDC devotes over 60% of its 2014 investment budget to the Lom Pangar Dam
9 January 2014
Business in Cameroon
The board of Electricity Development Corporation (EDC), the States body with oversight in energy infrastructure, adopted a balanced budget for 2014 on December 27, 2013 amounting to 80.8 billion FCfa, of which 70.2 billion FCfa will be devoted to investment.
Its partial launch scheduled for 2014, the Lom Pagar Dam will have a water retention capacity of 6 billion m3. It is being built by China International Water and Electric Corporation (CWE). According to lenders who evaluated the project in June 2013, 35% of the dam has been built.
The dam, at the foot of which an energy production factory will be built, is co-financed by the World Bank (66 billion FCfa), the European Investment Bank (19.7 billion FCfa), the African Development Bank (33 billion FCfa), the Central African States Development Bank (20 billion FCfa) and the French Development Agency (39.3 billion FCfa).