Cameroon secures $107 Million from Regional Banks for Lom Pangar Hydroelectricity Project

By Ben Nakomo

The Lom Pangar hydroelectricity project has a new booster from the African Development Bank and the Development Bank of Central African States, who have reached financing agreements totalling $107.4 million. This adds to the $132 million interest-free loan secured from the World Bank for the same project. The Lom Pangar project is a 30 MW hydroelectricity plant, with transmission lines and power distribution in the East region of the country. Cameroon plans to spend about $12 billion to increase electricity output from 1,000 MW to 3,000 MW by 2020. The 38-month construction shall be undertaken by the China International Water and Electric Corporation which was awarded the contract in May 2011.

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