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Yaoundé - 16 January 2019 -
Electricity

EU joins AfBD in financing the Cameroon-Chad power interconnection project

EU joins AfBD in financing the Cameroon-Chad power interconnection project
  • Comments   -   Friday, 11 January 2019 15:56

(Business in Cameroon) - The European commission signed December 20, 2018 with the African Development Bank an agreement granting €30 million (about XAF20 billion) to finance the power interconnection project between Cameroon and Chad. This was revealed in an AfDB official communiqué last January 9.  

“The African Development Bank committed in December 2017 to provide 65% of the financing needed for the Cameroon-Chad power interconnection project estimated at €399 million (about XAF262 billion). The donation approved by the European commission is 7.5% of the aggregate amount,” AfDB said.

The targeted-project, set to be completed in 2022, will improve the social and economic development framework in the two countries through better access to electricity and cross-border trade of cheap and cleaner energy.

BRM

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