HomeRegional NewsCentral AfricaChinese to fund Cameroon hydro project

Chinese to fund Cameroon hydro project

The Lom-Panga dam
and hydropower-plant
in Cameroon
Yaounde, Cameroon — ESI-AFRICA.COM — 05 May 2011 – The government of Cameroon has revealed that it has secured the finance it needs for the construction of a giant new hydro-electric project which will provide a significant boost for its coverage of the country.

Announcing this at a joint press conference here with the Chinese ambassador, Cameroon economy minister Louis Paul Motaze said the China Import-Export Bank had agreed to provide a US$542 million loan to fund the construction of a 201MW hydro-electric dam on the Ntem River.

He pointed out that the loan would help the central African country to narrow its electricity capacity deficit.

No details of the terms of the loan were given.