Thursday, 18 August 2016

Cameroon government seeking FCFA 940 billion to upgrade the electricity network grid

The Société nationale de transport de l’électricité in Cameroon, Sonatrel, is getting ready to launch a programme to strengthen and update the national electricity network grid, the Minister of Energy and Water, Basile Atangana Kouna, revealed in an interview to the pro-government daily.

The Cameroonian government, we learn, is currently seeking financing worth a total FCfa 940 billion, to complete this program. “Part of the financing is being finalised right now through the IRBD branch of the World Bank, thus a loan of USD 325 million (approximately FCfa 180 billion)”, Minister Atangana Kouna highlighted, Business In Cameroon reports.

Several other international lenders are lined up for the financing of this program for which Sonatrel will benefit from the expertise of the French company RTE. These are Exim Bank China, Société Générale, Exim Bank India, AfDB and BDEAC, or the Chinese bank ICBC and Deutsch Bank of Spain, Basile Atangana Kouna indicates.

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