Cameroon secures $107 mln loans for hydro project

29 March 2012

Reuters - March 28, 2012

Cameroon has reached financing agreements totalling 52.89-billion CFA francs with two regional banks for the construction of the Lom Pangar hydroelectricity project, a decree signed by the government said on Wednesday.

The agreements follow a $132-million zero-interest loan approved by the World Bank on Tuesday towards the construction of the dam.

Cameroon is the region's biggest economy and the world's fifth-largest cocoa producer, but its economic growth, seen at 5.5% this year, has underperformed regional peers due to its lack of infrastructure, analysts have said.

The government of Cameroon has said it plans to spend about $12-billion to increase electricity output from 1 000 MW to 3 000 MW by 2020.


Categories: Water, Energy

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