Cameroon: CFA10 billion to fund SMEs specialized in renewable energies

Energy

Cameroon: CFA10 billion to fund SMEs specialized in renewable energies

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- Tuesday, 28 November 2017 13:56

(Business in Cameroon) - The French development bank (Agence française de développement -AFD) and SCB Cameroon, subsidiary of the Moroccan banking group Attijariwafa Bank, just launched a CFA10 billion credit line in order to finance Cameroonian SMEs initiating renewable energy projects.

According to the banks, the loan will be granted to SMEs that meet the criteria with very competitive interest rates. They revealed that they have already identified some interesting projects.

The program should help increase the proportion of power generated through renewables in Cameroon’s energy mix. As a matter of fact, wind, solar and biomass energies officially represent 1% of this mix.

BRM

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